Text: S03513                            Text: S03515
Text: S03500 - S03599                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 3514

Amendment Text

PAG LIN
  1  1    Amend House File 611, as passed by the House, as
  1  2 follows:
  1  3    #1.  Page 1, by striking lines 13 through 20 and
  1  4 inserting the following:
  1  5    "Sec.    .  Section 537.2202, subsection 3, Code
  1  6 1997, is amended to read as follows:
  1  7    3.  If the billing cycle is monthly, the charge may
  1  8 not exceed an amount which, on a corresponding annual
  1  9 basis, is equal to one point sixty-five percent the
  1 10 greater of nineteen and eight hundredths percent or
  1 11 the prime rate plus six percent.  For purposes of this
  1 12 subsection, "prime rate" means the rate of interest as
  1 13 determined and published by the superintendent of
  1 14 banking pursuant to section 535.2, subsection 3,
  1 15 paragraph "a".  If the billing cycle is not monthly,
  1 16 the maximum charge for the billing cycle shall bear
  1 17 the same relation to the applicable monthly maximum
  1 18 charge as the number of days in the billing cycle
  1 19 bears to three hundred sixty-five divided by twelve.
  1 20 A billing cycle is monthly if the closing date of the
  1 21 cycle is the same date each month or does not vary by
  1 22 more than four days from the regular date."
  1 23    #2.  Page 1, by striking lines 21 through 26 and
  1 24 inserting the following:
  1 25    "Sec.    .  Section 537.2402, subsection 3, Code
  1 26 1997, is amended to read as follows:
  1 27    3.  If the billing cycle is monthly, the charge
  1 28 shall not exceed an amount which, on a corresponding
  1 29 annual basis, is equal to one and sixty-five
  1 30 hundredths percent of the maximum amount pursuant to
  1 31 subsection 2 the greater of nineteen and eight
  1 32 hundredths percent or the prime rate plus six percent.
  1 33 For purposes of this subsection, "prime rate" means
  1 34 the rate of interest as determined and published by
  1 35 the superintendent of banking pursuant to section
  1 36 535.2, subsection 3, paragraph "a".  If the billing
  1 37 cycle is not monthly, the maximum charge for the
  1 38 billing cycle shall bear the same relation to the
  1 39 applicable monthly maximum charge as the number of
  1 40 days in the billing cycle bears to three hundred
  1 41 sixty-five divided by twelve.  A billing cycle is
  1 42 monthly if the closing date of the cycle is the same
  1 43 date each month or does not vary by more than four
  1 44 days from the regular date."
  1 45    #3.  Page 1, line 27, by striking the figures "3,
  1 46 5," and inserting the following:  "5".
  1 47    #4.  By renumbering as necessary.  
  1 48 
  1 49 
  1 50                               
  2  1 ROBERT E. DVORSKY 
  2  2 HF 611.701 77
  2  3 mj/sc/28
     

Text: S03513                            Text: S03515
Text: S03500 - S03599                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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