H.B.
127
CONSUMER LENDING AMENDMENTS
House Committee
Amendments
Amendment 1 February 14, 2014 11:18 AM
Representative James A. Dunnigan
proposes the following amendments:
1. Page
9, Lines 258 through 263
:
258
(6) (a) The inquiry required by Subsection (1)(g) applies solely to the initial
period of a
deferred
259
deposit loan transaction with a person and does not apply to any rollover
or extended payment plan
of a
deferred deposit
260
loan.
261
(b) A deferred deposit lender is in compliance with Subsection (1)(g) if the deferred
262
deposit lender
,
at the time of the initial
period of the deferred deposit loan
transaction
{
with
}
, obtains one of the following regarding
the person seeking the deferred deposit
263
loan
{
obtains one of the following
}
:
2. Page
12, Line 347
:
347
under the extended payment plan is in compliance with the extended payment plan.
(6) A deferred deposit lender may not collect additional interest or fees on a deferred deposit loan,
except for the fee imposed under Subsection (3)(c)(ii), from a person who has been charged 10 weeks
interest and defaults under the extended payment plan described in Subsection (1)(c).
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