South Carolina General Assembly
110th Session, 1993-1994

Bill 1328


                    Current Status
Introducing Body:               Senate
Bill Number:                    1328
Ratification Number:            553
Act Number:                     572
Primary Sponsor:                Short
Type of Legislation:            JR
Subject:                        Consumer Finance Laws Study
                                Committee
Date Bill Passed both Bodies:   19940527
Computer Document Number:       1328
Governor's Action:              S
Date of Governor's Action:      19940926
Introduced Date:                19940406
Date of Last Amendment:         19940419
Last History Body:              ------
Last History Date:              19940926
Last History Type:              Signed by Governor
Scope of Legislation:           Local
All Sponsors:                   Short
                                Jackson
                                Gregory
Type of Legislation:            Joint
                                Resolution

History

Bill   Body    Date          Action Description              CMN  Leg Involved
____   ______  ____________  ______________________________  ___  ____________
1328   ______  19950103      Act No. 572
1328   ______  19940926      Signed by Governor
1328   ______  19940602      Ratified R 553
1328   House   19940527      Read third time, enrolled for
                             ratification
1328   House   19940526      Read second time, unanimous
                             consent for third reading on
                             next Legislative day
1328   House   19940526      Reconsidered vote whereby
                             debate was adjourned
1328   House   19940526      Debate adjourned until
                             Wednesday, June 1, 1994         
1328   House   19940518      Committee Report: Favorable     26
                             with amendment
1328   House   19940421      Introduced, read first time,    26
                             referred to Committee
1328   Senate  19940420      Read third time, sent to House
1328   Senate  19940419      Amended, read second time
1328   Senate  19940414      Committee Report: Favorable     02
                             with amendment
1328   Senate  19940406      Introduced, read first time,    02
                             referred to Committee
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A572, R553, S1328)

A JOINT RESOLUTION TO CREATE A COMMITTEE TO STUDY THE CONSUMER FINANCE LAWS IN THIS STATE AS THEY RELATE TO RESTRICTED LOANS, SUPERVISED LOANS, AND SALES FINANCE CONTRACTS, AND TO SPECIFY THE FINDINGS THE COMMITTEE SHALL MAKE IN REGARD TO THESE LOANS OR CONTRACTS.

Be it enacted by the General Assembly of the State of South Carolina:

Committee created

SECTION 1. There is hereby created a committee to study the consumer finance laws in this State as they relate to restricted loans, supervised loans, and sales finance contracts. The committee shall consist of three members of the House of Representatives, to be appointed by the Speaker; three members of the Senate, to be appointed by the President Pro Tempore; the State Consumer Advocate, or his designee; and the Director of the Consumer Finance Division of the State Board of Financial Institutions, or his designee. The committee shall utilize the existing staff of the Senate Banking and Insurance Committee and/or the Senate Judiciary Committee.

The committee shall make the following findings relative to restricted loans, supervised loans, and sales finance contracts: (1) whether an appropriate maximum finance charge, if any, shall be set; (2) to what extent other charges shall continue to be authorized; (3) to what extent refinancing and consolidation shall continue to be authorized; (4) to what extent credit insurance shall continue to be authorized; and (5) such other findings that the committee, in the course of its deliberations, shall deem necessary.

The committee shall make a report with recommendations to the General Assembly by January 24, 1995.

Time effective

SECTION 2. This joint resolution takes effect upon approval by the Governor.

Approved the 26th day of September, 1994.