Open-end credit plans; prohibits anyone other than seller of certain goods from extending credit. (HB2228)
Introduced By
Del. John O'Bannon (R-Richmond)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Open-end credit plans. Prohibits anyone other than the seller of goods to be used for personal, family, or household purposes from extending credit under an open-end plan at interest rates that exceed the legal rate of interest. To extend credit under such a plan, the loan must be for the sole purpose of financing the bona fide purchase price of such goods. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/12/2011 | Committee |
| 01/12/2011 | Prefiled and ordered printed; offered 01/12/11 11102064D |
| 01/12/2011 | Referred to Committee on Commerce and Labor |
| 01/27/2011 | Subcommittee recommends laying on the table |
| 02/08/2011 | Left in Commerce and Labor |
Comments
obannon