08RS HB471
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HB471

08RS

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HB 471 (BR 1251) - R. Rand, T. Thompson, J. Tilley, B. Yonts

     AN ACT relating to financial services.
     Amend KRS 286.7-460 to require revolving credit plans offered by industrial loan companies to be in an amount larger than $7,500; increase from $15 to $25 the bad check charge and from $20 to $25 the over-the-limit fee charged by industrial loan companies in connection with revolving credit plans; amend KRS 286.4-533 to permit an industrial loan company in any extension of credit to charge a bad check charge of $25 rather than $15, a credit investigations charge of $1.50 rather than $1 for each $50 of the principal amount of the loan, an alternative to the default charge in KRS 286.4-530(4) of $15 rather than $10, and costs or other expenses in accordance with KRS Chapter 355; amend KRS 286.4-590 to delete the requirement that certain information be included in the annual report filed with the Office of Financial Institutions.

HB 471 - AMENDMENTS


     HFA (1, R. Rand) - Delete Section 1 and renumber subsequent sections.

     SFA (1, E. Harris) - Amend Section 1 by deleting subsection (6) which would provide for costs and expenses in accordance with KRS Chapter 355.

     SFA (2, T. Buford) - Amend Section 1, subsection 6 to specify costs and expenses shall be authorized in accordance with KRS 355.9-207, rather than KRS Chapter 355.

     Feb 6-introduced in House
     Feb 7-to Banking & Insurance (H)
     Feb 8-posted in committee
     Feb 13-reported favorably, 1st reading, to Calendar
     Feb 14-2nd reading, to Rules
     Feb 20-floor amendment (1) filed
     Feb 21-posted for passage in the Regular Orders of the Day for Monday, February 25, 2008
     Feb 26-3rd reading, passed 89-7 with floor amendment (1)
     Feb 27-received in Senate
     Feb 29-to Banking & Insurance (S)
     Mar 13-reported favorably, 1st reading, to Calendar
     Mar 14-2nd reading, to Rules
     Mar 19-floor amendment (1) filed
     Mar 26-posted for passage in the Regular Orders of the Day for Wednesday, March 26, 2008; passed over and retained in the Orders of the Day; floor amendment (2) filed
     Mar 27-passed over and retained in the Orders of the Day
     Mar 28-passed over and retained in the Orders of the Day
     Apr 1-3rd reading; floor amendment (1) withdrawn ; passed 36-0 with floor amendment (2)
     Apr 2-received in House; to Rules (H); taken from Rules; posted for passage for concurrence in Senate floor amendment (2) ; House concurred in Senate floor amendment (2) ; passed 94-0; enrolled, signed by each presiding officer; delivered to Governor
     Apr 14-signed by Governor (Acts Ch. 93)

Vote History
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