HB 99

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In Committee

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1 Bill Summary
2 Bill Actions
3 Bill Calendar
4 Bill Text
5 Bill Votes
6 Bill Documents

Bill Summary

Sponsors

Jimmy Martin

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

To amend Section 8-37-6 as added to the Code of Alabama 1975, by Act 2017-392 (Acts 2017, 2017 Regular Session) relating to guaranteed asset protection waivers; to require a creditor or the administrator or retail seller of a motor vehicle to provide, within 120 days of termination, any refund due to a borrower if a guaranteed asset protection waiver is canceled due to early termination of the finance agreement without requiring the borrower to request cancellation of the waiver.

Subjects

Motor Vehicles

Bill Actions

Action Date	Chamber	Action
February 22, 2018	H	Farley intended to vote Nay
February 22, 2018	H	Motion to Read a Third Time and Pass lost Roll Call 471
February 22, 2018	H	Lost in house of origin
January 25, 2018	H	Read for the second time and placed on the calendar
January 9, 2018	H	Read for the first time and referred to the House of Representatives committee on Financial Services

Bill Calendar

Type	Date	Location	Description
Hearing	January 24, 2018	Room 428 at 09:00	House FS Hearing
Hearing	January 17, 2018	Room 428 at 09:00	House FS Hearing
Hearing	January 17, 2018	Room 428 at 09:30	House FS Hearing
Hearing	February 15, 2017	Room 429 at 09:00	House SG Hearing