Text: SSB02099                          Text: SSB02101
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Senate Study Bill 2100

Bill Text

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 to fifteen twenty 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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