[Introduced] [Passed House] [Sent to Governor]
History of Actions | Background | Title |
Description: Motor Vehicle Sales Finance Law and Small Loan Regulatory Law; make various amendments to.
| 1 | 01/10/97 | (H) | Referred To Banks and Banking | |
| 2 | 01/27/97 | (H) | Title Suff Do Pass Comm Sub | |
| 3 | 02/05/97 | (H) | Committee Substitute Adopted | |
| 4 | 02/05/97 | (H) | Passed | |
| 5 | 02/07/97 | (H) | Transmitted To Senate | |
| 6 | 02/11/97 | (S) | Referred To Business and Financial Institutions | |
| 7 | 02/20/97 | (S) | Title Suff Do Pass | |
| 8 | 03/05/97 | (S) | Passed | |
| 9 | 03/06/97 | (S) | Transmitted To House | |
| 10 | 03/10/97 | (H) | Enrolled Bill Signed | |
| 11 | 03/11/97 | (S) | Enrolled Bill Signed | |
| 12 | 03/11/97 | Due From Governor 03/17/97 | ||
| 13 | 03/17/97 | Approved by Governor |
| Effective date | Passage | |
| Disposition | Law | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No | |
| Chapter number | 332 |
House Committee:
Senate Committee:
Principal Author: Guice
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, A 007-0005-0025, A 063-0019-0017, A 063-0019-0055, A 075-0067-0237
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 THE EXEMPTION FROM LICENSING PROVISIONS UNDER THE CONSUMER LOAN BROKER ACT FOR CERTAIN MORTGAGE COMPANIES SHALL NOT EXEMPT THE MORTGAGE COMPANIES FROM ANY OTHER PROVISIONS OF THAT 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; TO CREATE NEW CODE SECTIONS TO BE CODIFIED AS SECTIONS 63-19-57, 75-67-137 AND 75-67-245, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT LICENSEES UNDER THE MOTOR VEHICLE SALES FINANCE LAW, THE SMALL LOAN REGULATORY LAW AND THE SMALL LOAN PRIVILEGE TAX LAW SHALL NOT BE LIABLE FOR ANY ACT OR OMISSION IN CONFORMITY WITH ANY RULE OR REGULATION OF THE COMMISSIONER OF BANKING AND CONSUMER FINANCE OR ANY OTHER STATE OR FEDERAL AGENCY OR ANY OPINION OF THE ATTORNEY GENERAL; TO PROVIDE THAT SUCH LICENSEES, ACTING IN CONFORMITY WITH A WRITTEN INTERPRETATION OF A STATE OR FEDERAL AGENCY OR DEPARTMENT, SHALL BE PRESUMED TO HAVE ACTED IN ACCORDANCE WITH APPLICABLE LAW; TO AMEND SECTIONS 7-5-25, 63-19-17, 63-19-55 AND 75-67-237, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.
End Of Document
1997/History/HB\HB0916.htm