HB479 Alabama 2018 Session

Summary

Primary Sponsor

Jimmy Martin

Republican

Session

Regular Session 2018

Title

Motor vehicle, guaranteed asset protection waiver increase the fine for providing a refund, Sec. 8-37-6 am'd.

Description

Existing law provides that if a guaranteed asset protection waiver is canceled due to early termination of the finance agreement, the creditor, administrator, or other authorized party shall provide any refund due to a borrower within 60 days of termination without requiring the borrower to request cancellation of the waiver.

This bill would extend the refund period to 120 days.

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Subjects

Motor Vehicles