AZ HB2381

Amends Arizona Revised Statutes Section 44-291 regarding motor vehicle retail installment contracts and secondary motor vehicle finance transactions.

Establishes a maximum annual percentage rate of 36 percent for secondary motor vehicle finance transactions involving active duty military members or their dependents.

Clarifies that violations of Section 670 of the John Warner National Defense Authorization Act for Fiscal Year 2007 constitute violations of Arizona law for secondary motor vehicle finance transactions.

Modifies late payment or delinquency charge limitations to cap charges at the lesser of 5 percent of unpaid balance or $10.

Makes grammatical corrections by replacing "which" with "that" throughout the statute.