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MS SB2014
Bill
AI Summary
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Amends Section 75-17-25 of Mississippi Code to exclude charges, fees, and premiums for voluntarily purchased credit life, health, or accident insurance from the definition of "finance charge"
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Also excludes auto club membership fees charged by small loan licensees under Section 75-67-121 from being classified as finance charges
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Applies to licensees under the Small Loan Regulatory Law (Section 75-67-101 et seq.) and Small Loan Privilege Tax Law (Section 75-67-201 et seq.)
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Takes effect July 1, 2015
Legislative Description
Small loan licensees; charges/premiums for credit insurance and auto club memberships not considered finance charges.
Last Action
Died In Committee
2/3/2015
Committee Referrals
Business and Financial Institutions1/9/2015
Full Bill Text
No bill text available