Current Status Introducing Body:
SenateBill Number: 1328Ratification Number: 553Act Number: 572Primary Sponsor: ShortType of Legislation: JRSubject: Consumer Finance Laws Study CommitteeDate Bill Passed both Bodies: 19940527Computer Document Number: 1328Governor's Action: SDate of Governor's Action: 19940926Introduced Date: 19940406Date of Last Amendment: 19940419Last History Body: ------Last History Date: 19940926Last History Type: Signed by GovernorScope of Legislation: LocalAll Sponsors: Short Jackson GregoryType of Legislation: Joint Resolution
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 CommitteeView additional legislative information at the LPITS web site.
(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:
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.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
Approved the 26th day of September, 1994.