Bill Text: MO HB1936 | 2010 | Regular Session | Introduced

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Bill Title: Requires lenders of unsecured loans of $500 or less, commonly known as payday loans, to display in the lobby a brochure detailing the eligibility requirements for the Missouri Food Stamp Program

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-03-29 - Referred: Financial Institutions (H) [HB1936 Detail]

Download: Missouri-2010-HB1936-Introduced.html

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SECOND REGULAR SESSION

HOUSE BILL NO. 1936

95TH GENERAL ASSEMBLY

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INTRODUCED BY REPRESENTATIVES LOW (Sponsor), WALTON GRAY, OXFORD, ZIMMERMAN, SKAGGS, NEWMAN, CORCORAN AND PACE (Co-sponsors).

3654L.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk

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AN ACT

To amend chapter 408, RSMo, by adding thereto one new section relating to lenders of unsecured loans.

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Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section A. Chapter 408, RSMo, is amended by adding thereto one new section, to be known as section 408.503, to read as follows:

            408.503. 1. Every lender licensed under section 408.500 shall conspicuously display in the lobby of the lender's business establishment a brochure detailing the eligibility requirements for the Missouri food stamp program.

            2. The family support division shall develop and provide every lender subject to the provisions of this section with the brochure required in subsection 1 of this section. The brochure shall, at a minimum, contain the following:

            (1) The family support division Missouri food stamp program contact information;

            (2) An explanation of the Missouri food stamp program;

            (3) The eligibility requirements for the Missouri food stamp program; and

            (4) Information on how to obtain an application form and any accompanying instructions. The family support division may make such application forms and instructions available at the lender's place of business.

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