Text: H08505                            Text: H08507
Text: H08500 - H08599                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 8506

Amendment Text

PAG LIN
  1  1    Amend Senate File 295, as passed by the Senate, as
  1  2 follows:
  1  3    #1.  By striking everything after the enacting
  1  4 clause and inserting the following:
  1  5    "Section 1.  Section 537.2505, subsection 3, Code
  1  6 1997, is amended to read as follows:
  1  7    3.  a.  If all debts consolidated arise exclusively
  1  8 from consumer loans, the creditor may contract for and
  1  9 receive the finance charge permitted by the provisions
  1 10 on finance charge for consumer loans pursuant to
  1 11 section 537.2401.
  1 12    b.  If the debts consolidated include a debt
  1 13 arising from a consumer credit sale, including a
  1 14 transaction pursuant to a lender credit card, the
  1 15 amount of the finance charge is governed by the
  1 16 provisions on finance charge for consumer credit sales
  1 17 in section 537.2201.  A new loan shall not be made
  1 18 consolidating a debt arising from a consumer credit
  1 19 sale with a new advance unless the proceeds of the
  1 20 resulting transaction provide the consumer with at
  1 21 least one thousand dollars in new funds for the
  1 22 consumer's own use, exclusive of the amount necessary
  1 23 to pay in full the existing balance after rebates and
  1 24 exclusive of any loan charges or appropriate
  1 25 additional charges as authorized under section
  1 26 537.2501."
  1 27    #2.  Title page, line 1, by striking the words
  1 28 "finance charges upon".  
  1 29 
  1 30 
  1 31                               
  1 32 COMMITTEE ON COMMERCE
  1 33 AND REGULATION
  1 34 METCALF of Polk, Chairperson
  1 35 SF 295.302 77
  1 36 mj/cf/28
     

Text: H08505                            Text: H08507
Text: H08500 - H08599                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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