History of Actions | Background | Title |
Description: Motor Vehicle Sales Finance Law and Small Loan Regulatory Law; make various amendments.
| 1 | 01/10/97 | (S) | Referred To Business and Financial Institutions | |
| 2 | 02/04/97 | (S) | Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committee:
Principal Author: Woodfield
Code Sections: A 063-0019-0003, A 063-0019-0047, A 075-0067-0103, A 075-0067-0105, A 081-0019-0007, A 081-0021-0021, A 081-0021-0027, RP 075-0067-0123
Title: AN ACT TO AMEND SECTION 63-19-3, MISSISSIPPI CODE OF 1972, TO CLARIFY THE DEFINITIONS OF CERTAIN TERMS IN THE MOTOR VEHICLE SALES FINANCE LAW; TO AMEND SECTION 63-19-47, MISSISSIPPI CODE OF 1972, TO REVISE THE CALCULATION OF THE REFUND RECEIVED WHEN A BUYER UNDER THE MOTOR VEHICLE SALES FINANCE LAW PAYS IN FULL BEFORE MATURITY THE DEBT OF A RETAIL INSTALLMENT CONTRACT; TO AMEND SECTION 75-67-103, MISSISSIPPI CODE OF 1972, TO DEFINE THE TERM "OCCASIONAL LENDER" IN REGARD TO THE SMALL LOAN REGULATORY LAW; TO AMEND SECTION 75-67-105, MISSISSIPPI CODE OF 1972, TO REQUIRE A SEPARATE LICENSE FOR EACH ELECTRONIC LOAN PROCESSING MACHINE OWNED OR OPERATED BY A LICENSEE UNDER THE SMALL LOAN REGULATORY LAW; TO AMEND SECTION 81-19-7, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT CERTAIN MORTGAGE COMPANIES SHALL BE EXEMPT FROM LICENSING PROVISIONS UNDER THE CONSUMER LOAN BROKER ACT, BUT SHALL NOT BE EXEMPT FROM ANY OTHER PROVISIONS OF SUCH ACT; TO AMEND SECTION 81-21-21, MISSISSIPPI CODE OF 1972, TO REVISE THE CALCULATION OF THE UNEARNED PREMIUMS RETURNED TO PREMIUM FINANCE COMPANIES WHENEVER FINANCED INSURANCE CONTRACTS ARE CANCELLED; TO AMEND SECTION 81-21-27, MISSISSIPPI CODE OF 1972, TO REVISE THE EXCLUSIONS FROM COVERAGE OF THE CHAPTER OF LAW REGULATING INSURANCE PREMIUM FINANCE COMPANIES; TO CREATE A NEW CODE SECTION TO BE CODIFIED WITHIN CHAPTER 19 OF TITLE 63, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE COMMISSIONER OF BANKING AND CONSUMER FINANCE TO PROMULGATE REGULATIONS NECESSARY TO ADMINISTER THE MOTOR VEHICLE SALES FINANCE LAW; TO REPEAL SECTION 75-67-123, MISSISSIPPI CODE OF 1972, WHICH PLACES RESTRICTIONS ON LOANS MADE BY A LICENSEE UNDER THE SMALL LOAN REGULATORY LAW TO THE SAME BORROWER WITHIN 90 DAYS; AND FOR RELATED PURPOSES.
End Of Document
1997/History/SB\SB2490.htm