House Journal: Page 736: Thursday, March 18, 1999

16   installment may not have been paid in full.  For

17   purposes of this subsection payments are applied first
18   to current installments and then to delinquent
19   installments.
20     Sec. 4.  Section 537.3206, Code 1999, is amended by
21   adding the following new subsection:
22     NEW SUBSECTION.  4.  a.  A creditor shall credit a
23   payment to the consumer's account as of the date of
24   receipt, except when a delay in crediting does not
25   result in a finance or other charge, including a late
26   charge, or except as provided in paragraph "b".  For
27   purposes of this subsection, a delay in posting does
28   not violate this subsection so long as the payment is
29   credited as of the date of receipt.
30     b.  If a creditor specifies requirements for the
31   consumer to follow in making payments on the contract,
32   payment coupon book, payment coupon or statement, or
33   periodic statement, but accepts a payment that does
34   not conform to the requirements, the creditor shall
35   credit the payment within two days of receipt of such
36   payment.
37     c.  If a creditor fails to credit a payment as
38   required by this subsection in time to avoid the
39   imposition of a finance or other charge, including a
40   delinquency charge, the creditor shall adjust the
41   consumer's account so that the charges imposed are
42   credited to the consumer's account during the next
43   payment period."
44     2.  Title page, by striking lines 1 and 2 and
45   inserting the following:  "An Act relating to
46   permissible fees and charges which may be assessed and
47   collected with respect to certain consumer credit
48   transactions."
Amendment H?1099 was adopted.
Rants of Woodbury moved that the bill be read a last time now and 
placed upon its passage which motion prevailed and the bill was read 
a last time.
On the question "Shall the bill pass?" (H.F. 443)
	The ayes were, 88:
Alons	Arnold	Barry	Baudler
Bell	Blodgett	Boal	Boddicker
Boggess	Bradley	Brauns	Brunkhorst
Bukta	Burnett	Carroll	Cataldo
Chapman	Chiodo	Cohoon	Cormack
Davis	Dix	Dolecheck	Dotzler^
Drake	Eddie	Falck	Foege
Ford	Garman	Gipp	Greiner
Grundberg	Hahn	Hansen	Heaton
Hoffman	Holmes	Horbach	Houser
Huseman	Jacobs	Jager	Jenkins
Jochum	Johnson	Kettering	Klemme
Larkin	Larson	Lord	Martin
Mascher	May	Mertz	Metcalf
Millage	Mundie	Murphy	Myers
Nelson	O'Brien	Osterhaus	Parmenter
Raecker	Rants	Rayhons	Reynolds
Richardson	Scherrman	Schrader	Shoultz
Siegrist	Stevens	Sukup	Sunderbruch
Taylor	Thomas	Thomson	Tyrrell
Van Engelenhoven	Warnstadt	Weidman	Weigel
Welter	Whitead	Witt	Mr. Speaker
				  Corbett
	The nays were, 6:
Doderer	Drees	Fallon	Frevert
Holveck	Kreiman	
	Absent or not voting, 6:
Connors	Huser	Kuhn	Teig
Van Fossen	Wise
The bill having received a constitutional majority was declared to 
have passed the House and the title, as amended, was agreed to.
House File 571, a bill for an act relating to the deposit of public 
funds and the conditions which must be met by a savings and loan 
association or savings bank to be eligible to receive such deposits, was 
taken up for consideration.
Chapman of Linn offered the following amendment H?1109 filed 
by her and moved its adoption:
H-1109
 1     Amend House File 571 as follows:
 2     1.  Page 1, line 7, by inserting after the word
 3   "loan" the following:  "or savings association".
 4     2.  Page 1, by inserting after line 17 the
 5   following:
 6     "Sec. ___.  Section 12C.1, subsection 3, paragraph
 7   b, Code 1999, is amended to read as follows:
 8     b.  If a depository is a bank, then public deposits

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