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AL SB138

Bill

Official Source

Status

Engrossed

3/8/2018

Primary Sponsor

Arthur Orr

Click for details

Origin

Senate

Regular Session 2018

AI Summary

SB138 Summary

  • Changes the term of deferred presentment transactions from a range of 10-31 calendar days to a fixed 30 calendar days.

  • Amends Section 5-18A-13 of the Code of Alabama 1975 to standardize transaction terms across all deferred presentment lenders.

  • Becomes effective immediately upon passage and approval by the Governor or upon becoming law.

Legislative Description

Deferred presentment transactions, term set at 30 days, Sec. 5-18A-13 amd.

Deferred Presentment Transactions

Last Action

Read for the first time and referred to the House of Representatives committee on Financial Services

3/8/2018

Committee Referrals

Financial Services3/8/2018
Banking and Insurance1/11/2018

Full Bill Text

No bill text available