l9n/ Mississippi

2009 Regular Session

Senate Bill 2987

MS Alternative Loan Act; create.

Did not become law. It stopped in the Senate's Business and Financial Institutions Committee on February 3, 2009. The 2009 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO CREATE THE "MISSISSIPPI ALTERNATIVE LOAN ACT"; TO DEFINE CERTAIN TERMS; TO PROHIBIT ANY PERSON FROM ENGAGING IN THE BUSINESS OF LENDING MONEY, EXCEPT AS AUTHORIZED BY THIS ACT; TO PROVIDE FOR APPLICATION OF LICENSE FOR SUCH LOANS; TO AUTHORIZE LICENSING FEES; TO PROVIDE FOR THE REVOCATION OR SUSPENSION OF LICENSE BY THE COMMISSIONER OF BANKING AND CONSUMER FINANCE; TO AUTHORIZE AN EXAMINATION FEE; TO PROVIDE RECORD KEEPING REQUIREMENTS; TO AUTHORIZE THE COMMISSIONER OF BANKING AND CONSUMER FINANCE TO PROMULGATE RULES AND REGULATIONS FOR ADMINISTRATION OF THIS ACT; TO AUTHORIZE CERTAIN LOAN CHARGES BY THE LICENSEE; TO PRESCRIBE CERTAIN TERMS OF THE LOAN CONTRACT; TO REQUIRE ALL BORROWER CONTRACTS AND RECORDS OF THE LICENSEE TO BE OPEN TO THE INSPECTION OF THE COMMISSIONER OR HIS DULY AUTHORIZED REPRESENTATIVES; TO PROVIDE THAT CERTAIN FINANCE CHARGES CONTRACTED FOR OR RECEIVED IN EXCESS OF THAT AUTHORIZED BY THIS ACT SHALL BE FORFEITED AND MAY BE RECOVERED; AND FOR RELATED PURPOSES.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

Its course

January 19 to February 3, 2009, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action2 actions on 2 days

In the SenateJan 19 to Feb 3 · stopped15 days

Business and Financial InstitutionsJan 19 to Feb 3 · stopped15 days

Text

Each version as the Legislature printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the Senate Jan 19 – Feb 3

  1. Jan 19Referred to the Senate committee on Business and Financial Institutions
  2. Feb 3Died in committee in the Senate
All 2 actions, as published
  1. Jan 19Referred To Business and Financial InstitutionsSenate
  2. Feb 3Died In CommitteeSenate