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MS HB1298

Bill

Official Source

Status

Failed

2/13/2014

Primary Sponsor

Lester Carpenter

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Amends Section 75-17-25, Mississippi Code of 1972, to exclude charges, fees, and premiums for voluntarily purchased credit life, health, or accident insurance from the definition of "finance charge"

  • Excludes auto club membership fees charged by small loan licensees under Sections 75-67-101 et seq. and 75-67-201 et seq. from being counted as finance charges

  • These exclusions apply to charges assessed under Section 75-67-121 by licensees under the Small Loan Regulatory Law and Small Loan Privilege Tax Law

  • Takes effect July 1, 2014

Legislative Description

Finance charges; charges & premiums for credit insurance & auto club memberships by small loan licenses not considered as.

Last Action

Died On Calendar

2/13/2014

Committee Referrals

Banking and Financial Services1/20/2014

Full Bill Text

No bill text available