SB253 Alabama 2010 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2010
Title
Mini-Code, consumer credit transactions, late charge increased under certain conditions, Sec. 5-19-4 am'd.
Description
Under existing provisions of the Alabama Consumer Credit Act, there are limits to the amount of late charges that lenders may impose on the amount of the scheduled payment in default 10 days or more
This bill would provide for an increase in the maximum late charge that certain lenders may charge if the late charge is stipulated in the contract
To amend Section 5-19-4, Code of Alabama 1975, relating to late charges under the Alabama Consumer Credit Act or the Mini-Code, to provide for an increase in the maximum late charge that certain lenders may charge if the late charge is stipulated in the contract.
Subjects
Banks and Banking
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 14, 2010 | Indefinitely Postponed | |
| February 2, 2010 | Read for the second time and placed on the calendar | |
| January 14, 2010 | Read for the first time and referred to the Senate committee on Banking and Insurance |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB253 Alabama 2010 Session - Introduced |