Enrolled House Bill (H)
Authored by: Rep. Robert Heaton
Co-Authors: Rep. Justin Moed, Rep. Christina Hale, Rep. Woody Burton
Sponsors: Sen. Travis Holdman
  • Rep. Robert Heaton
    Rep. Robert Heaton

    Author

  • Rep. Justin Moed
    Rep. Justin Moed

    Co-Author

  • Rep. Christina Hale
    Rep. Christina Hale

    Co-Author

  • Rep. Woody Burton
    Rep. Woody Burton

    Co-Author

  • Sen. Travis Holdman
    Sen. Travis Holdman

    Sponsor

DIGEST

Various financial institutions matters. Makes various changes to the laws concerning: (1) financial institutions; (2) debt management companies; (3) pawnbrokers; (4) money transmitters; (5) check cashers; (6) persons licensed under the Uniform Consumer Credit Code; (7) first lien mortgage lenders; and (8) rental purchase agreements. Provides that a lessor that leases property under rental purchase agreements may, subject to certain conditions, offer for sale to members of the general public at the location where the lessor enters into rental purchase agreements: (1) property and services that were or may be the subject of a rental purchase agreement; and (2) property or services that are ... unrelated or only partially or indirectly related to the lessor's rental purchase agreement business. Repeals a provision that provides that all debts: (1) owed to certain financial institutions; and (2) on which interest is past due for a period of six months; are bad debts unless, in the opinion of the department of financial institutions, the debts are well secured.