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OK HB1198
Bill
Status
2/7/2011
Primary Sponsor
Jeannie McDaniel
Click for details
AI Summary
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Establishes a 9-member Task Force on Payday Lenders and Rental Purchase Lessors with 3 members appointed by the Governor, 3 members from the House appointed by the Speaker, and 3 members from the Senate appointed by the President Pro Tempore
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Task Force must hold organizational meeting by September 1, 2011, select a chair and cochair, and conduct business with a quorum of members present
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Task Force shall review the Deferred Deposit Lending Act, payday lending laws in other states, and requiring payday lenders to comply with interest caps on consumer loans
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Task Force must submit final written report of findings and recommendations to the Governor, Speaker, and President Pro Tempore by December 31, 2011
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Task Force terminates by operation of law on January 1, 2012; effective date of July 1, 2011 with emergency clause declared
Legislative Description
Consumer credit; creating Task Force on Payday Lenders and Rental Purchase Lessors; effective date; emergency.
Government
Last Action
Second Reading referred to Rules
2/8/2011