BILL · 2009–10 SESSION

SB 5750: Debt repayment flexibility

Addressing the protection of consumers by providing flexibility in the repayment of certain debts.

Summary

  • The minimum term for a payday loan is 60 days. A licensee may only charge 10 percent of the principal as interest or fees for the endorsement of a small loan.

From the Senate Bill Report (Orig.) (SB 5750), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 30, 2009
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Craig Pridemore (D-49)
Introduced
January 30, 2009 in the Senate
Last action
March 15, 2010
Budget
Has a fiscal note

AN ACT Relating to protection of consumers by providing flexibility in the repayment of certain debts;

Sponsors

Votes

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

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. First reading, referred to Labor, Commerce & Consumer Protection.

SB 5750 in other sessions

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

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