Mississippi Legislature
2004 Regular Session

Senate Bill 2479

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Bill Text

History of Actions

Background

Title

Description: Discount rates and indices; revise announcement by Commissioner of Banking/amend usury statute.

Bill Text: [Introduced]

History of Actions:

1 02/09 (S) Referred To Business and Financial Institutions
2 03/09 (S) Died In Committee

Background Information:

Effective datePassage
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority

Senate Committee:

Principal Author: Mettetal

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 WHICH IS SECURED BY A LIEN ON RESIDENTIAL REAL PROPERTY; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/09/04 at 17:46.

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