Bill Text | History of Actions | Background | Title |
Description: Nonprofit Debt Management Services Act; create.
Bill Text: [Introduced] [Committee Substitute] [Passed House]
| 1 | 01/20 (H) Referred To Banks and Banking | |
| 2 | 02/04 (H) Title Suff Do Pass Comm Sub | |
| 3 | 02/06 (H) Committee Substitute Adopted | |
| 4 | 02/06 (H) Passed | |
| 5 | 02/06 (H) Motion to Reconsider Entered | |
| 6 | 02/11 (H) Motion to Reconsider Tabled | |
| 7 | 02/12 (H) Transmitted To Senate | |
| 8 | 02/12 (S) Referred To Business and Financial Institutions | |
| 9 | 03/04 (S) Died In Committee |
| Effective date | July 1, 2003 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
House Committee:
Senate Committee:
Principal Author: Davis
Code Sections: RP 085-0009-0001, RP 085-0009-0005
Title: AN ACT TO CREATE THE MISSISSIPPI NONPROFIT DEBT MANAGEMENT SERVICES ACT; TO DEFINE CERTAIN TERMS; TO PROVIDE FOR THE LICENSING OF DEBT MANAGEMENT SERVICE PROVIDERS; TO REQUIRE EVIDENCE OF A SURETY BOND BEFORE LICENSING; TO PROVIDE REQUIREMENTS FOR THE HANDLING OF FUNDS RECEIVED FROM A CONSUMER; TO REQUIRE EXECUTION OF A WRITTEN AGREEMENT BETWEEN THE DEBT MANAGEMENT SERVICE PROVIDER AND THE CONSUMER; TO ESTABLISH THE MAXIMUM FEES ALLOWED TO BE CHARGED TO THE CONSUMER BY THE DEBT MANAGEMENT SERVICE PROVIDER; TO REQUIRE THE DEBT MANAGEMENT SERVICE PROVIDER TO FURNISH EACH CONSUMER PERIODIC WRITTEN REPORTS ACCOUNTING FOR THE FUNDS RECEIVED FOR PAYMENT; TO PROVIDE FOR THE REGULATORY POWERS AND FUNCTIONS OF THE COMMISSIONER OF BANKING WITH REGARD TO DEBT MANAGEMENT SERVICE PROVIDERS; TO PROHIBIT CERTAIN ACTS BY DEBT MANAGEMENT SERVICE PROVIDERS; TO PROHIBIT FALSE OR MISLEADING ADVERTISING BY DEBT SERVICE PROVIDERS; TO PROVIDE ENFORCEMENT ACTIONS FOR VIOLATIONS OF THIS ACT; TO PROVIDE FOR THE SUSPENSION OR REVOCATION OF DEBT MANAGEMENT SERVICE PROVIDER LICENSES; TO REPEAL SECTIONS 85-9-1 THROUGH 85-9-5, MISSISSIPPI CODE OF 1972, WHICH REGULATE DEBT ADJUSTING OR CREDIT ARRANGING BUSINESSES; AND FOR RELATED PURPOSES.
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2003/html/History/HB/HB1414.htm