SB 1007 – Bars lending institutions from using unsolicited negotiable instruments as extensions of credit to consumers

• Sponsor: Goodman
• LR Number: 4783S.01I
• Committee: Financial & Governmental Organizations and Elections
• Last Action: 3/6/2006 - Hearing Scheduled But Not Heard S Financial & Governmental Organizations and Elections Committee
• Effective Date: August 28, 2006

Current Bill Summary

SB 1007 - This act bars lending institutions from using unsolicited negotiable instruments as extensions of credit to consumers. If a lending institution engages in such a practice, the lending institution shall be liable for the amount of the instrument and any insufficient funds fees.

This act is identical to HB 991 (2006).

CHRIS HOGERTY

Amendments

No Amendments Found.