Description: Loans; National Guard and Reserves members called to active duty shall not have to pay interest on during service.
Bill Text: [Introduced]
History of Actions:
|1||01/12 (H) Referred To Banking and Financial Services|
|2||02/01 (H) Died In Committee|
|Deadline||General Bill/Constitutional Amendment|
|Vote type required||Majority|
Principal Author: Gunn
Title: AN ACT TO PROVIDE THAT ANY PERSON WHO IS MEMBER OF THE MISSISSIPPI NATIONAL GUARD OR AN ARMED FORCES RESERVE UNIT BASED IN MISSISSIPPI WHO IS CALLED TO ACTIVE DUTY SERVICE, AND WHO HAS A LOAN OUTSTANDING WHEN THE ACTIVE DUTY SERVICE BEGINS, SHALL NOT HAVE TO PAY THE INTEREST AND OTHER FINANCE CHARGES THAT OTHERWISE WOULD BE DUE ON THE LOAN DURING THE TIME OF ACTIVE DUTY SERVICE; TO PROVIDE THAT PAYMENT OF THE INTEREST AND OTHER FINANCE CHARGES THAT OTHERWISE WOULD BE DUE ON THE LOAN WILL BE SUSPENDED WHILE THE PERSON IS SERVING ON ACTIVE DUTY, AND INTEREST AND FINANCE CHARGES WILL NOT ACCRUE ON THE LOAN DURING THAT TIME; TO PROVIDE THAT THIS ACT APPLIES TO ANY PERSON WHO IS CALLED TO ACTIVE DUTY SERVICE, WHETHER BEFORE OR AFTER THE EFFECTIVE DATE OF THE ACT; AND FOR RELATED PURPOSES.
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