OR SB485 | 2021 | Regular Session
Status
Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 17-2)
Status: Passed on August 20 2021 - 100% progression
Action: 2021-08-20 - Effective date, July 27, 2021.
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Moderate Partisan Bill (Democrat 17-2)
Status: Passed on August 20 2021 - 100% progression
Action: 2021-08-20 - Effective date, July 27, 2021.
Text: Latest bill text (Enrolled) [PDF]
Summary
Requires certain persons that service student loans in this state to obtain or renew license. Requires certain persons that service student loans in this state to obtain or renew license. Specifies license application and renewal procedures, required fees and persons that are exempt from requirement. Prescribes duties of licensee and requires licensee to maintain specified liquidity, operating reserves and tangible net worth. Prescribes civil penalty against person that engages in business as student loan servicer without license. Permits Director of Department of Consumer and Business Services to participate in multistate examinations under specified circumstances. Becomes operative on July 1, 2022. Declares emergency, effective on passage.
Title
Relating to student loan servicers; and declaring an emergency.
Sponsors
Roll Calls
2021-06-25 - House - House Third Reading (Y: 53 N: 2 NV: 0 Abs: 4) [PASS]
2021-06-24 - Senate - Senate Third Reading (Y: 22 N: 7 NV: 0 Abs: 1) [PASS]
2021-06-21 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 21 N: 1 NV: 0 Abs: 1) [PASS]
2021-02-11 - Senate - Senate Committee Do pass and requesting referral to Ways and Means (Y: 5 N: 0 NV: 0 Abs: 0) [PASS]
2021-06-24 - Senate - Senate Third Reading (Y: 22 N: 7 NV: 0 Abs: 1) [PASS]
2021-06-21 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 21 N: 1 NV: 0 Abs: 1) [PASS]
2021-02-11 - Senate - Senate Committee Do pass and requesting referral to Ways and Means (Y: 5 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2021-08-20 | Senate | Effective date, July 27, 2021. |
| 2021-08-20 | Senate | Chapter 651, 2021 Laws. |
| 2021-07-27 | Senate | Governor signed. |
| 2021-07-01 | House | Speaker signed. |
| 2021-06-29 | Senate | President signed. |
| 2021-06-25 | House | Rules suspended. Third reading. Carried by Power. Passed. Ayes, 53; Nays, 2--Cate, Reschke; Excused, 3--Dexter, Smith G, Wilde; Excused for Business of the House, 1--Morgan. |
| 2021-06-25 | House | Second reading. |
| 2021-06-25 | House | Recommendation: Do pass. |
| 2021-06-24 | House | Referred to Ways and Means. |
| 2021-06-24 | House | Rules suspended. First reading. Referred to Speaker's desk. |
| 2021-06-24 | Senate | Vote explanation(s) filed by Heard. |
| 2021-06-24 | Senate | Rules suspended. Third reading. Carried by Taylor. Passed. Ayes, 22; Nays, 7--Boquist, Girod, Heard, Linthicum, Robinson, Thatcher, Thomsen; Excused, 1--Manning Jr. |
| 2021-06-24 | Senate | Second reading. |
| 2021-06-23 | Senate | Recommendation: Do pass with amendments. (Printed A-Eng.) |
| 2021-06-21 | Senate | Work Session held. |
| 2021-06-16 | Senate | Returned to Full Committee. |
| 2021-06-16 | Senate | Work Session held. |
| 2021-06-13 | Senate | Assigned to Subcommittee On Transportation and Economic Development. |
| 2021-02-24 | Senate | Referred to Ways and Means by order of the President. |
| 2021-02-24 | Senate | Recommendation: Do Pass and be referred to Ways and Means. |
| 2021-02-11 | Senate | Work Session held. |
| 2021-02-02 | Senate | Public Hearing held. |
| 2021-01-19 | Senate | Referred to Labor and Business. |
| 2021-01-11 | Senate | Introduction and first reading. Referred to President's desk. |
