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AZ HB2216

Bill

Official Source

Status

Introduced

1/19/2022

Primary Sponsor

Kelli Butler

Click for details

Origin

House of Representatives

Fifty-fifth Legislature - Second Regular Session (2022)

AI Summary

  • Prohibits sellers, bailors, lenders, or lessors from entering into secondary motor vehicle finance transactions unless the borrower holds clear title to the vehicle securing the loan.

  • Caps the finance charge on secondary motor vehicle finance transactions at 36 percent.

  • Defines "finance charge" to include all interest, ancillary product charges sold with the transaction, and other credit-related incidental charges.

Legislative Description

Auto title loans; title; interest

Motor Vehicles

Last Action

House read second time

1/20/2022

Committee Referrals

Rules1/19/2022
Government & Elections1/19/2022
Commerce1/19/2022

Full Bill Text

No bill text available