08RS HB471

WWW Version
The hyperlink to a bill draft that precedes a summary contains the most recent version (Introduced/GA/Enacted) of the bill. If the session has ended, the hyperlink contains the latest version of the bill at the time of sine die adjournment. Note that the summary pertains to the bill as introduced, which is often different from the most recent version.

Includes opposite chamber sponsors where requested by primary sponsors of substantially similar bills in both chambers and jointly approved by the Committee on Committees of both chambers. Opposite chamber sponsors are represented in italics.

HB 471 (BR 1251) - R. Rand, T. Thompson, J. Tilley, B. Yonts

AN ACT relating to financial services.
Amend KRS 286.7-460 to require revolving credit plans offered by industrial loan companies to be in an amount larger than $7,500; increase from $15 to $25 the bad check charge and from $20 to $25 the over-the-limit fee charged by industrial loan companies in connection with revolving credit plans; amend KRS 286.4-533 to permit an industrial loan company in any extension of credit to charge a bad check charge of $25 rather than $15, a credit investigations charge of $1.50 rather than $1 for each $50 of the principal amount of the loan, an alternative to the default charge in KRS 286.4-530(4) of $15 rather than $10, and costs or other expenses in accordance with KRS Chapter 355; amend KRS 286.4-590 to delete the requirement that certain information be included in the annual report filed with the Office of Financial Institutions.

HB 471 - AMENDMENTS

     HFA (1, R. Rand) - Delete Section 1 and renumber subsequent sections.

     SFA (1, E. Harris) - Amend Section 1 by deleting subsection (6) which would provide for costs and expenses in accordance with KRS Chapter 355.

     SFA (2, T. Buford) - Amend Section 1, subsection 6 to specify costs and expenses shall be authorized in accordance with KRS 355.9-207, rather than KRS Chapter 355.

     Feb 6-introduced in House
     Feb 7-to Banking & Insurance (H)
     Feb 8-posted in committee
     Feb 13-reported favorably, 1st reading, to Calendar
     Feb 14-2nd reading, to Rules
     Feb 20-floor amendment (1) filed
     Feb 21-posted for passage in the Regular Orders of the Day for Monday, February 25, 2008
     Feb 26-3rd reading, passed 89-7 with floor amendment (1)
     Feb 27-received in Senate
     Feb 29-to Banking & Insurance (S)
     Mar 13-reported favorably, 1st reading, to Calendar
     Mar 14-2nd reading, to Rules
     Mar 19-floor amendment (1) filed
     Mar 26-posted for passage in the Regular Orders of the Day for Wednesday, March 26, 2008; passed over and retained in the Orders of the Day; floor amendment (2) filed
     Mar 27-passed over and retained in the Orders of the Day
     Mar 28-passed over and retained in the Orders of the Day
     Apr 1-3rd reading; floor amendment (1) withdrawn ; passed 36-0 with floor amendment (2)
     Apr 2-received in House; to Rules (H); taken from Rules; posted for passage for concurrence in Senate floor amendment (2) ; House concurred in Senate floor amendment (2) ; passed 94-0; enrolled, signed by each presiding officer; delivered to Governor
     Apr 14-signed by Governor (Acts Ch. 93)

Vote History

Legislature Home Page | Record Front Page