Text: SSB03086                          Text: SSB03088
Text: SSB03000 - SSB03099               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index



Senate Study Bill 3087

Bill Text

PAG LIN
  1  1    Section 1.  Section 537.3205, subsection 6, Code 1999, is
  1  2 amended to read as follows:
  1  3    6.  Notwithstanding subsections 1 through 5, a creditor is
  1  4 not required to deliver or mail to the consumer a written
  1  5 disclosure of a change in the terms of an open-end credit
  1  6 account if the change involves a decrease in the rate of the
  1  7 finance charge, a decrease in a delinquency charge, or a
  1  8 decrease in an over-limit charge, or an increase in the rate
  1  9 of the finance charge when the consumer has entered into an
  1 10 agreement to access funds and the agreement provides for the
  1 11 interest rate to be established at the time the funds are
  1 12 accessed.  
  1 13                           EXPLANATION
  1 14    This bill provides that a creditor is not required to
  1 15 deliver or mail to the consumer a written disclosure of a
  1 16 change in the terms of an open-end credit account if the
  1 17 change involves an increase in the rate of the finance charge
  1 18 when the consumer has entered into an agreement to access
  1 19 funds and the agreement provides for the interest rate to be
  1 20 established at the time the funds are accessed.  
  1 21 LSB 6536SC 78
  1 22 mj/cf/24
     

Text: SSB03086                          Text: SSB03088
Text: SSB03000 - SSB03099               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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