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MS SB2382

Bill

Status

Passed

4/15/2024

Primary Sponsor

Chad Mcmahan

Click for details

Origin

Senate

2024 Regular Session

AI Summary

  • Amends Mississippi Code Section 75-67-313 to allow pawnbrokers to pass third-party credit and debit card processing fees to customers, separate from the 25% monthly pawnshop charge cap.

  • Requires pawnbrokers to provide clear and conspicuous notice at point of entry and point of sale disclosing the fee amount, that it applies to card transactions, and which payment methods are subject to the fee.

  • Limits card processing fees to the actual single transaction cost charged by the third-party processor to the pawnbroker.

  • Makes conforming gender-neutral language changes to Section 75-67-315 regarding pawnbroker record-keeping and inspection requirements.

  • Takes effect July 1, 2024.

Legislative Description

Pawnbrokers; allow to pass credit or debit card processing charges to customers.

Last Action

Approved by Governor

4/15/2024

Committee Referrals

Banking and Financial Services3/14/2024
Business and Financial Institutions2/12/2024

Full Bill Text

No bill text available