BILL · 2005–06 SESSION

SB 6738: Small loan payment plans

Modifying the laws governing small loan payment plans.

Summary

  • If a borrower is unable to repay a pay day loan, the lender must provide a payment plan, without waiting for four loans. The payment plan constitutes a new loan, with a balance in the amount of the outstanding loan, net payments made.

From the Senate Bill Report (SB 6738), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 19, 2006
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Darlene Fairley (D-32)
Introduced
January 19, 2006 in the Senate
Last action
January 19, 2006

AN ACT Relating to small loan payment plans;

Sponsors

Prime sponsor: Darlene Fairley (D-32)

2 co-sponsors (1 Democrat, 1 Republican)

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. First reading, referred to Financial Institutions, Housing & Consumer Protection.

SB 6738 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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