Mississippi Senate Bill 2535 (Prior Session Legislation)

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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 Create The "limited Access Credit Act"; To Define Certain Terms Used In The Act; To Require A License From The Commissioner Of Banking And Consumer Finance Before Engaging In Business As A Limited Access Credit Licensee; To Provide Exemptions To The Act; To Provide Eligibility Requirements For A Limited Access Credit License; To Provide That Each Application For A License Shall Be In A Form Prescribed By The Commissioner; To Require Investigation By The Department Of Banking Before Issuance Of A License, And To Require That The License Shall Be Conspicuously Posted In The Place Of Business Of The Licensee; To Authorize The Department Of Banking To Adopt Regulations And To Examine The Books And Records Of Any Licensee; To Prohibit The Advertising, Displaying Or Publishing Of False Or Misleading Statements By A Licensee; To Provide For Fees And Charges To Be Charged By A Licensee Under A Limited Access Credit Agreement; To Authorize The Commissioner Of Banking To Suspend Or Revoke A License Upon Making Certain Findings; To Authorize The Commissioner Of Banking To Investigate And Examine Persons Licensed Under The Act And Persons Reasonably Suspected Of Conducting Business Which Requires A License Under The Act; To Provide Penalties For Engaging In Business Without A License; To Provide Criminal And Civil Penalties For Violations Of The Act; To Require The Commissioner Of Banking To Develop Any Necessary Forms To Carry Out The Provisions Of The Act; To Provide That Municipalities Of This State May Enact Ordinances Which Are In Compliance With, But Not More Restrictive Than, The Provision Of The Act; To Authorize The Commissioner Of Banking To Employ The Necessary Full-time Employees Above The Number Of Permanent Full-time Employees Authorized For The Department For Fiscal Year 2016 To Enforce The Provisions Of The Act; And For Related Purposes.

Limited Access Credit Act; create.

Sen. Sally Doty [R]

Date	Chamber	Action
2016-02-23	Senate	Died In Committee
2016-02-08	Senate	Referred To Business and Financial Institutions

Type	Source
Summary	https://billstatus.ls.state.ms.us/2016/pdf/history/SB/SB2535.xml
Text	https://billstatus.ls.state.ms.us/documents/2016/html/SB/2500-2599/SB2535IN.htm