VA HB187 | 2010 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 7 2010 - 25% progression, died in committee
Action: 2010-02-16 - House: Left in Commerce and Labor
Pending: House Commerce and Labor Committee
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on January 7 2010 - 25% progression, died in committee
Action: 2010-02-16 - House: Left in Commerce and Labor
Pending: House Commerce and Labor Committee
Text: Latest bill text (Prefiled) [HTML]
Summary
Open-end lending; car title loans. Provides that extensions of credit under an open-end credit or similar plan by a seller or lender, under which interest currently may be charged at any rate on which the parties agree, may be made only by sellers of goods or services or by certain licensed or regulated financial institutions. The measure also authorizes such loans to be made by Consumer Finance Act licensees, who are prohibited from charging interest on such loans at a rate that exceeds 36 percent annually.
Title
Open-end lending; provides extensions of credit secured by motor vehicle titles, caps interest.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2010-02-16 | House: Left in Commerce and Labor | |
2010-01-07 | House: Referred to Committee on Commerce and Labor | |
2010-01-07 | House: Prefiled and ordered printed; offered 01/13/10 10101712D |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
6 | 1 | 249 | (n/a) | See Bill Text |
6 | 1 | 272.1 | (n/a) | See Bill Text |
6 | 1 | 278 | (n/a) | See Bill Text |
6 | 1 | 285 | (n/a) | See Bill Text |
6 | 1 | 330.78 | (n/a) | See Bill Text |
Virginia State Sources
Type | Source |
---|---|
Summary | https://lis.virginia.gov/cgi-bin/legp604.exe?101+sum+HB187 |
Text | https://lis.virginia.gov/cgi-bin/legp604.exe?101+ful+HB187+hil |