Mississippi House Bill 1141 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on February 23 2016 - 100% progression
Action: 2016-02-23 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Create The "mississippi Credit Availability Act"; To Define Terms Used In The Act; To Provide Licensing Requirements For Persons Engaging In The Business As A Credit Availability Licensee; To Provide Exemptions From The Act; To Provide Applicant Eligibility Requirements; To Provide That Each Application For A License Shall Be In A Form Prescribed By The Commissioner; To Require Investigation By The Department Of Banking Before Issuance Of A License, And To Require That The License Shall Be Conspicuously Posted In The Place Of Business Of The Licensee; To Authorize The Department Of Banking To Adopt Regulations And To Examine The Books And Records Of Any Licensee; To Prohibit The Advertising, Displaying Or Publishing Of False Or Misleading Statements By A Licensee; To Provide For Fees, Charges And Method Of Computation To Be Charged By A Licensee Under A Credit Availability Account; To Require Licensees To Provide Account Holder With A Written Explanation Of Fees And Charges; To Authorize The Commissioner Of Banking To Suspend Or Revoke A License Upon Making Certain Findings; To Authorize The Commissioner Of Banking To Investigate And Examine Persons Licensed Under The Act And Persons Reasonably Suspected Of Conducting Business Which Requires A License Under The Act; To Provide Penalties For Engaging In Business Without A License; To Provide Criminal And Civil Penalties For Violations Of The Act; To Provide That Municipalities Of This State May Enact Ordinances Which Are In Compliance With, But Not More Restrictive Than, The Provision Of The Act; To Authorize The Commissioner Of Banking To Employ The Necessary Full-time Employees Above The Number Of Permanent Full-time Employees Authorized For The Department For Fiscal Year 2016 To Enforce The Provisions Of The Act; To Provide Liability Protections For Licensees; To Amend Section 75-67-403, Mississippi Code Of 1972, To Remove The Prohibition That No Business Other Than Title Pledge Business Shall Be Conducted At A Title Pledge Office; To Amend Section 75-67-505, Mississippi Code Of 1972, To Provide That The Commissioner Of Banking Shall Authorize The Offering Of Credit Availability Transactions In Addition To Those That May Be Performed As Part Of A Check Cashing Business; And For Related Purposes.

MS Credit Availability Act; create.

Rep. Henry Zuber [R]

Date	Chamber	Action
2016-02-23	House	Died In Committee
2016-02-08	House	Referred To Banking and Financial Services

Type	Source
Summary	https://billstatus.ls.state.ms.us/2016/pdf/history/HB/HB1141.xml
Text	https://billstatus.ls.state.ms.us/documents/2016/html/HB/1100-1199/HB1141IN.htm