Mississippi House Bill 1208 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on March 6 2012 - 100% progression
Action: 2012-03-06 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

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 Applications For A License For Those Loans; To Authorize Licensing Fees; To Provide For The Revocation Or Suspension Of Licenses 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.

Loans; create Mississippi Alternative Loan Act.

Rep. Mary Coleman [D]

Date	Chamber	Action
2012-03-06		Died In Committee
2012-02-20		Referred To Banking and Financial Services;Appropriations

Type	Source
Summary	https://billstatus.ls.state.ms.us/2012/pdf/history/HB/HB1208.xml
Text	https://billstatus.ls.state.ms.us/documents/2012/html/HB/1200-1299/HB1208IN.htm