House of Representatives
State of Utah
UTAH STATE CAPITOL COMPLEX . 350 STATE CAPITOL
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P.O. BOX 145030 . SALT LAKE CITY, UTAH 84114-5030 . (801) 538-1029 February 15, 2012
Madam Speaker:
The Business and Labor Committee recommends H.B. 459, AMENDMENTS TO DEFERRED DEPOSIT LENDING,
by Representative J. Dunnigan, be replaced and reports a favorable recommendation on 1st Sub. H.B. 459, AMENDMENTS
TO DEFERRED DEPOSIT LENDING with the following amendments:
James A. Dunnigan
1. Page
5, Lines 119 through 130
:
119
[(v)] (iv) the total number of deferred deposit loans rescinded by the deferred
deposit
120
lender at the request of the customer pursuant to Subsection
7-23-401
(3)(b);
121
[(vi) the percentage of deferred deposit loans extended by the deferred deposit
lender
122
that are not paid in full by 10 weeks after the day on which the deferred deposit loan is
123
executed; and]
124
[
}
{
(vii)
}
(v)
of the persons to whom the deferred deposit lender
extended a deferred deposit
125
loan, the percentage that entered into an extended payment plan under Section
7-23-403
.
]
}
126
(v)
}
(vi)
the total dollar amount of deferred deposit loans rescinded by the
deferred deposit
127
lender at the request of the customer pursuant to Subsection
7-23-401
(3)(b);
128
(vi)
}
(vii)
the average annual percentage rate charged on deferred deposit
loans; and
129
(vii)
}
(viii)
the total number of extended payment plans entered into
under Section
7-23-403
130
by the deferred deposit lender.
Respectfully,
Committee Chair
Voting: 13-1-0
7 HB0459.HC1.wpd 2/15/12 10:05 am /BRH PO/BRH
Bill Number
*HB0459S01*
HB0459S01