Mississippi House Bill 1512 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on February 23 2016 - 100% progression
Action: 2016-02-23 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Be Known As The Mississippi Consumer Alternative Installment Loan Act; To Prohibit Engaging In The Business Of Making Consumer Installment Loans And Charging Or Contracting For Interest On Those Loans Without Approval From The Commissioner Of Banking And Consumer Finance; To Provide That The Commissioner Of Banking And Consumer Finance Shall Not Unreasonably Withhold Approval Of Any Person, Partnership, Association, Limited Liability Company Or Corporation Who Has Met Certain Requirements; To Prescribe The Maximum Charges Permitted For Loans Made By Licensees Under This Act And The Method Of Computing Those Charges; To Prescribe The Terms Of Loans Made By Licensees Under This Act; To Authorize The Commissioner Of Banking And Consumer Finance To Adopt Rules And Regulations Necessary For The Enforcement Of This Act; To Provide Certain Liability Protections To Licensees; To Create New Section 75-67-123, Mississippi Code Of 1972, To Provide That For Purposes Of Compliance With Maximum Charges Permitted Under Certain Provisions Of Law, Any Charges, Fees Or Premiums For Credit Insurance Or Auto Club Memberships Shall Not Be Included In The Calculation Of The Finance Charge; To Amend Sections 75-17-21, 75-17-25 And 75-67-119, Mississippi Code Of 1972, In Conformity Thereto; And For Related Purposes.

MS Consumer Alternative Installment Loan Act; create.

Rep. Henry Zuber [R]

Date	Chamber	Action
2016-02-23	House	Died In Committee
2016-02-08	House	Referred To Banking and Financial Services

Type	Source
Summary	https://billstatus.ls.state.ms.us/2016/pdf/history/HB/HB1512.xml
Text	https://billstatus.ls.state.ms.us/documents/2016/html/HB/1500-1599/HB1512IN.htm