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February 24, 1999
Mr. President:
The Business, Labor, and Economic Development Committee recommends H.B. 86, CHECK ABUSE AMENDMENTS, by Representative J. Swallow, be replaced and favorably recommends 1st Sub. H.B. 86, CHECK ABUSE AMENDMENTS with the following amendments:
1. Page 3, Line 82: After "(6)" insert "(a)"
2. Page 3, Line 84: After line 84 insert:
"(i) the amount owed under Subsection (2)(b);
(ii) the collection costs under Subsection (4);"
3. Page 3, Line 85: Delete "(a)" and insert "(iii)"
4. Page 3, Line 86: Delete "(i)" and insert "(A)"
5. Page 3, Line 87: Delete "(A)" and insert "(I)"
6. Page 4, Line 88: Delete "(B)" and insert "(II)"
7. Page 4, Line 89: Delete "(ii)" and insert "(B)"
8. Page 4, Line 90: Delete "(b)" and insert "(iv)"
9. Page 4, Line 91: After "exceed" delete the remainder of line 91
10. Page 4, Line 92: Delete line 92 and insert:
"$50.
(b)(i) Notwithstanding Subsection (6)(a), at least 2/3 of all amounts charged or collected under Subsection (6)(a)(iv) shall be paid to and be the property of the original payee of the check.
(ii) A person who is not the original payee may not retain more than 1/3 of all amounts charged or collected under Subsection (6)(a)(iv).
(iii) The original payee of a check may not contract for a person to retain more than 1/3 of all amounts charged or collected under Subsection (6)(a)(iv)."
11. Page 4, Line 112 After line 112 insert:
"(d)(i) Notwithstanding Subsection (7)(b), at least 2/3 of all amounts charged or collected under Subsection (7)(b)(iv) shall be paid to and be the property of the original payee of the check.
(ii) A person who is not the original payee may not retain more than 1/3 of all amounts charged or collected under Subsection (7)(b)(iv).
(iii) The original payee of a check may not contract for a person to retain more than 1/3 of all amounts charged or collected under Subsection (7)(b)(iv)."
Respectfully,
Parley G. Hellewell
Committee Chair
Voting: 6-0-0
7 HB0086.SC1 nwoodhea/MCP PO/MCP 5:30 PM