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AZ HB2272
Bill
Status
1/25/2021
Primary Sponsor
Kelli Butler
Click for details
AI Summary
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Requires enterprises, consumer lenders, and premium finance companies to comply with 10 U.S.C. Section 987 and 32 C.F.R. Part 232 when extending consumer credit to military service members and their dependents.
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Establishes examination requirements for enterprises, consumer lenders, and premium finance companies at least once every five years to ensure compliance with federal military lending laws.
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Designates violations of military lending compliance requirements as unlawful practices under Arizona's consumer protection laws, allowing the Attorney General to investigate and take enforcement action.
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Applies the same military lending compliance requirements to financial institutions, licensees, and premium finance companies across multiple sections of Arizona Revised Statutes.
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Replaces references to "superintendent" with "deputy director" in the division's examination and enforcement authorities.
Legislative Description
Consumer credit; military; federal law
Military
Last Action
House read second time
1/26/2021