Text: SSB02099 Text: SSB02101 Text: SSB02100 - SSB02199 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 537.2501, subsection 1, Code 1997, is 1 2 amended by adding the following new paragraph: 1 3 NEW PARAGRAPH. i. With respect to a consumer loan, the 1 4 parties may contract for an application fee not to exceed 1 5 twenty-five dollars for the preparation of an application or 1 6 loan documentation, which may be retained by the lender 1 7 whether or not the credit is actually extended pursuant to the 1 8 application. 1 9 Sec. 2. Section 537.2502, subsection 4, Code Supplement 1 10 1997, is amended to read as follows: 1 11 4. With respect to open-end credit, the parties may 1 12 contract for a delinquency charge on any payment not paid in 1 13 full when due, as originally scheduled or as deferred, in an 1 14 amount up tofifteentwenty dollars. 1 15 EXPLANATION 1 16 This bill amends provisions relating to the permissible 1 17 fees and charges that may be collected by a creditor 1 18 associated with certain consumer credit transactions. 1 19 Code section 537.2501 is amended to provide that a creditor 1 20 may collect a $25 application fee for a consumer loan which 1 21 may be kept by the creditor whether or not credit is extended 1 22 to the consumer pursuant to the application. 1 23 Code section 537.2502 is amended by increasing the 1 24 delinquency charge on any payment not paid in full when due 1 25 which may be collected with respect to open-end credit, from 1 26 $15 to $20. 1 27 LSB 4081SC 77 1 28 mj/jl/8
Text: SSB02099 Text: SSB02101 Text: SSB02100 - SSB02199 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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