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2017 Regular Session
Overview
At the request of:
Chief Sponsors:
Regular Sponsors:
Bill Title: Relating to fees; and prescribing an effective date.
Catchline/Summary: Provides that debt management service provider may charge fee of not more than $50 per month during term of agreement between consumer and debt management service provider under which debt management service provider improves or preserves, or offers to improve or preserve, consumer's credit record, credit history or credit rating but does not conduct budget analysis for consumer, act as broker for another debt management service provider or otherwise engage in other activity that constitutes deb
t management service. Provides that initial fee that debt management service provider charges consumer is fee for first month of service. Permits consumer to void contract and requires debt management service provider to return sums consumer paid if debt management service provider charges more than fees allowed. Provides that consumer may not waive consumer's rights under Act. Permits director to adjust fees to reflect changes in Consumer Price Index. Becomes operative January 1, 2018. Takes effect on 91st day following adjournment sine die.
Chapter Number: Chapter 465
Fiscal Impact: Has Minimal Fiscal Impact
Revenue Impact: Has Minimal Revenue Impact
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: Chapter Number Assigned
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Subsequent Referral(s):
Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
Measure History
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