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MS HB1289
Bill
Status
2/2/2021
Primary Sponsor
Timmy Ladner
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AI Summary
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Defines "open account" as any transaction involving sale of goods or services based on oral or written agreement where the debtor agrees to pay after receiving goods/services and an invoice
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Expands liability for account debtors who fail to pay within 30 days of written demand to include reasonable attorney's fees, expenses, and costs (previously only attorney's fees)
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Specifies acceptable methods for sending payment demands: registered/certified mail, priority mail, commercial delivery services with 2-business-day delivery, hand delivery with affidavit, or first class mail
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For entity debtors registered with the Secretary of State, sending demand to the entity's address or registered agent's address on file satisfies the current address requirement
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Effective date of July 1, 2021
Legislative Description
Open accounts; revise definition and require account creditor to send demand to current address of account debtor through certain means.
Last Action
Died In Committee
2/2/2021