Open-end loans; secured by a nonpurchase money lien on a motor vehicle, report. (HB1093)
Introduced By
Del. Mark Sickles (D-Alexandria)
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Open-end motor vehicle credit agreements; reporting requirements. Requires unlicensed lenders making revolving loans secured by a nonpurchase money lien on a motor vehicle, as a condition to making such loans, to provide the State Corporation Commission with information annually commencing March 1, 2011, regarding the lenders and such loans. The Commission is required to prepare reports summarizing the information and to submit the reports annually to the Governor and the General Assembly. View Full Text »
Outcome
Bill Has Failed
View Bill's History
