Text: HSB00199 Text: HSB00201 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 537.2502, Code 1995, is amended by
1 2 adding the following new subsection:
1 3 NEW SUBSECTION. 8. With respect to open-end credit
1 4 obtained pursuant to a credit card issued by the creditor
1 5 which entitles the cardholder to purchase or lease goods or
1 6 services from less than one hundred persons not related to the
1 7 card issuer, the parties may contract for a delinquency charge
1 8 on any payment not paid in full within thirty days after its
1 9 due date, as originally scheduled or as deferred, in an amount
1 10 not to exceed ten dollars. A delinquency charge shall not be
1 11 collected more than once on any one payment, regardless of the
1 12 length of time the payment remains delinquent.
1 13 EXPLANATION
1 14 This bill provides that the parties to an open-end credit
1 15 arrangement involving credit cards issued by the creditor
1 16 which entitles the cardholder to purchase or lease goods or
1 17 services from less than 100 persons who are not related to the
1 18 card issuer may contract for a delinquency charge on any
1 19 payment not paid in full within 30 days after its due date, as
1 20 originally scheduled or as deferred, in an amount not to
1 21 exceed $10. The delinquency charge authorized under this sub-
1 22 section shall only be collected once on any one payment,
1 23 regardless of how long the payment remains delinquent.
1 24 LSB 1569HC 76
1 25 mj/jw/5
Text: HSB00199 Text: HSB00201 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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