Text: HF00510 Text: HF00512 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN 1 1 Section 1. Section 537.2501, subsection 1, paragraph f, 1 2 unnumbered paragraph 1, Code 1995, is amended to read as 1 3 follows: 1 4 With respect to open-end credit pursuant to a credit card 1 5 issued by the creditor which entitles the cardholder to 1 6 purchase or lease goods or services from at least one hundred 1 7 persons not related to the card issuer, the parties may 1 8 contract for an over-limit chargenot to exceed tenup to 1 9 fifteen dollars if the balance of the account exceeds the 1 10 credit limit established pursuant to the agreement. The over- 1 11 limit charge under this paragraph shall not be assessed again 1 12 in a subsequent billing cycle unless in a subsequent billing 1 13 cycle the account balance has been reduced below the credit 1 14 limit. 1 15 Sec. 2. Section 537.2501, subsection 2, paragraph b, 1 16 subparagraph (2), Code 1995, is amended to read as follows: 1 17 (2) The insurance shall be sold separately and shall be 1 18 separately priced from any other insurance offered or sold at 1 19 the same time. The credit unemployment insurance need not be 1 20 sold separately or separately priced from other insurance 1 21 offered if it is included as part ofa mailedan insurance 1 22 offering by a credit card issuer to its credit cardholders. 1 23However, credit unemployment insurance shall not be sold in1 24conjunction with an application for a credit card or for the1 25renewal of a credit card.1 26 Sec. 3. Section 537.2502, subsection 4, Code 1995, is 1 27 amended to read as follows: 1 28 4. With respect to open-end credit obtained pursuant to a 1 29 credit card issued by the creditor which entitles the 1 30 cardholder to purchase or lease goods or services from at 1 31 least one hundred persons not related to the card issuer, the 1 32 parties may contract for a delinquency charge on any payment 1 33 not paid in fullwithin ten days after itswhen duedate, as 1 34 originally scheduled or as deferred, in an amountnot to1 35exceed tenup to fifteen dollars. 2 1 Sec. 4. Section 537.2502, subsection 5, Code 1995, is 2 2 amended to read as follows: 2 3 5. A delinquency charge under subsection 4 may be 2 4 collected only once on a payment however long it remains in 2 5 default.NoA delinquency chargemayshall not be collected 2 6 with respect to a deferred payment unless the payment is not 2 7 paid in fullwithin ten days afteron or before its deferred 2 8 due date. A delinquency charge may be collected at the time 2 9 it accrues or at any time afterward. 2 10 Sec. 5. Section 537.2502, subsection 6, Code 1995, is 2 11 amended to read as follows: 2 12 6.NoA delinquency chargemayshall not be collected 2 13 under subsection 4 on a payment which is paid in fullwithin2 14ten days afteron or before its scheduled or deferred due date 2 15 even though an earlier maturing payment or a delinquency or 2 16 deferred charge on an earlier payment has not been paid in 2 17 full. For purposes of this subsection, payments are applied 2 18 first to amounts due for the current billing cycle and then to 2 19 delinquent payments. 2 20 HF 511 2 21 mj/pk/25
Text: HF00510 Text: HF00512 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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