Bill Title: Relating To Deferred Presentment Services, By Adding Section 34-39-175 To Provide That The Consumer Finance Division Of The Board Of Financial Institutions Must Implement A Deferred Presentment Loan Tracking Database And To Provide For Information Required In The Database; To Add Section 34-39-270 To Limit Consumers To One Deferred Presentment Loan At A Time, To Provide For A Seven Day Waiting Period Between Loans, To Require Deferred Presentment Providers To Verify A Consumers Eligibility For A Loan Prior To Entering A Deferred Presentment Transaction, To Provide For The Process To Determine Eligibility; To Add Section 34-39-280 To Provide That Under Certain Circumstances A Consumer May Utilize A Payment Plan To Satisfy An Outstanding Loan, To Provide For The Circumstances Under Which A Payment Plan May Be Used, And The Requirements For A Payment Plan; To Add Section 34-39-290 To Provide That The Board Must Make Annual Reports And To Provide For The Contents Of Those Reports; To Amend Section 34-39-130 To Provide For The Applicability Of Chapter 39 Of Title 34; To Amend Section 34-39-150 To Provide That The Application Fee For New Licenses And License Renewal Fees Are Increased From Two Hundred Fifty Dollars To Five Hundred Dollars; To Amend Section 34-39-180 To Provide For A Maximum Loan Amount Based Upon The Consumer's Gross Income Or Five Hundred Dollars, To Provide For Consumer Warning Statements, To Provide That Deferred Presentment Providers May Not Enter Into A Loan With A Consumer Satisfying Another Loan Pursuant To An Extended Payment Plan, And To Provide That The Board Must Develop A Form To Be Used By Deferred Presentment Providers To Calculate The Maximum Amount That May Be Lent To A Consumer; To Amend Section 34-39-200 To Provide Additional Limitations On The Activities Of Licensed Deferred Presentment Providers; To Amend Chapter 39 Of Title 34 By Adding Section 39-34-205 To Place On-premises Advertising Limitations; And To Amend Section 34-39-170 To Provide That Consumers And Deferred Presentment Providers May Not Enter Into Agreements That Allow For Automatic Debited Loan Payments.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Introduced - Dead) 2009-01-13 - Referred to Committee on Banking and Insurance SJ-78 [S15 Detail]

Text: Not Available

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