Bill Text | History of Actions | Background | Title |
Description: Usury law; revise announcement of discount rates and indices by Commissioner of Banking.
Bill Text: [Introduced]
| 1 | 02/04 (H) Referred To Banking and Financial Services | |
| 2 | 03/09 (H) Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
House Committee:
Principal Author: Guice
Code Sections: A 075-0017-0033, A 075-0017-0001
Title: AN ACT TO AMEND SECTION 75-17-33, MISSISSIPPI CODE OF 1972, TO REVISE THE DUTIES OF THE COMMISSIONER OF BANKING AND CONSUMER FINANCE REGARDING THE ANNOUNCEMENT OF DISCOUNT RATES AND INDICES; TO AMEND SECTION 75-17-1, MISSISSIPPI CODE OF 1972, TO DELETE THE PROVISION ALLOWING ANY BORROWER OR DEBTOR TO CONTRACT FOR A FINANCE CHARGE NOT TO EXCEED THE GREATER OF 10% PER ANNUM OR 5% PER ANNUM ABOVE THE INDEX OF CERTAIN MARKET YIELDS ON ANY LOAN, MORTGAGE OR ADVANCE THAT IS SECURED BY A LIEN ON RESIDENTIAL REAL PROPERTY; AND FOR RELATED PURPOSES.
End Of Document
2004/html/History/HB/HB0791.htm