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House Bill 1081


House Bill 1081

ARCHIVE (2013)

Latest Information

 

DIGEST OF HB 1081 (Updated April 25, 2013 5:22 pm - DI 101)


Financial institutions and consumer credit. Makes various changes to the laws concerning: (1) financial institutions; (2) first lien mortgage lenders; (3) persons regulated under the Uniform Consumer Credit Code, including payday lenders; (4) debt management companies; (5) pawnbrokers; (6) money transmitters; (7) rental purchase agreements; and (8) funeral trusts. Repeals provisions that do the following: (1) Allow a debtor to cancel an agreement with a debt management company before midnight of the third business day after the debtor enters into the agreement. (2) Concern the definition, cancellation, and duration of, and alternatives to, a "surety device" for purposes of the statute concerning money transmitters. (3) Concern the application fee for purposes of the statute concerning money transmitters.
Current Status:
 Law Enacted
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