Indiana Senate Bill 245 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 9 2017 - 25% progression, died in committee
Action: 2017-01-09 - First reading: referred to Committee on Insurance and Financial Institutions
Pending: Senate Insurance & Financial Institutions Committee
Text: Latest bill text (Introduced) [PDF]

Long term small loans. Provides that a lender that is licensed by the department of financial institutions to engage in small loans may enter into a transaction for a long term small loan with a borrower. Defines a long term small loan as a loan that: (1) is entered into by a licensed small loan lender and a borrower; (2) has a principal amount of at least $605 and not more than $2,500; and (3) is payable in installments over a term of not more than 24 months. Provides that with respect to a long term small loan, a lender

Long term small loans. Provides that a lender that is licensed by the department of financial institutions to engage in small loans may enter into a transaction for a long term small loan with a borrower. Defines a long term small loan as a loan that: (1) is entered into by a licensed small loan lender and a borrower; (2) has a principal amount of at least $605 and not more than $2,500; and (3) is payable in installments over a term of not more than 24 months. Provides that with respect to a long term small loan, a lender

Sen. Travis Holdman [R]

Date	Chamber	Action
2017-01-09	Senate	First reading: referred to Committee on Insurance and Financial Institutions
2017-01-09	Senate	Authored by Senator Holdman

Type	Source
Summary	https://iga.in.gov/legislative/2017/bills/senate/245/details
Text	http://iga.in.gov/static-documents/b/7/0/3/b7036822/SB0245.01.INTR.pdf