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.
Forwarded to Governor on June 2, 2011 at 8:30 p.m. on June 2, 2011.
Assigned Act No. 2011-529 on 06/09/2011.
Clerk of the House Certification
Enrolled
Clerk of the House Certification
Signature Requested
Concurred in Second House Amendment
Galliher motion to Concur In and Adopt adopted Roll Call 1111
Concurrence Requested
Motion to Read a Third Time and Pass adopted Roll Call 982
Motion to Adopt adopted Roll Call 981
Dial Amendment Offered
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Commerce, Transportation, and Utilities
Engrossed
Oden abstained due to possible conflict of interest
Motion to Read a Third Time and Pass adopted Roll Call 290
Motion to Adopt adopted Roll Call 289
Ford Amendment Offered
Motion to Adopt adopted Roll Call 288
Financial Services first Substitute Offered
Third Reading Passed
Read for the second time and placed on the calendar with 1 substitute and
Read for the first time and referred to the House of Representatives committee on Financial Services
Source: Alabama Legislature