Bill Text: FL S1266 | 2016 | Regular Session | Comm Sub

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Bill Title: Recovery Agencies

Spectrum: Bipartisan Bill

Status: (Failed) 2016-03-11 - Died in Appropriations Subcommittee on General Government [S1266 Detail]

Download: Florida-2016-S1266-Comm_Sub.html

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       Florida Senate - 2016                             CS for SB 1266
       
       
        
       By the Committee on Commerce and Tourism; and Senator Simpson
       
       577-03900-16                                          20161266c1
    1                        A bill to be entitled                      
    2         An act relating to recovery agencies; amending s.
    3         493.6101, F.S.; revising the definition of the term
    4         “recovery agency”; providing an effective date.
    5          
    6  Be It Enacted by the Legislature of the State of Florida:
    7  
    8         Section 1. Subsection (20) of section 493.6101, Florida
    9  Statutes, is amended to read:
   10         493.6101 Definitions.—
   11         (20) “Recovery agency” means a any person who, for
   12  consideration, advertises as providing or is engaged in the
   13  business of performing repossessions. The term does not include
   14  a person who does not directly perform repossessions and who,
   15  pursuant to a contract with a licensed bank, bank holding
   16  company, credit union, or small loan company, contracts with a
   17  licensed recovery agency for the performance of repossessions by
   18  such agency, if the person includes a disclaimer in all
   19  advertisements appearing in this state which discloses that the
   20  person does not directly perform any repossessions but contracts
   21  with licensed recovery agencies.
   22         Section 2. This act shall take effect upon becoming a law.