HB 1059 -- CREDIT (Liese)

This bill clarifies which financial institutions' charges for
processing a refused instrument can be charged under a small
loan.

It also permits charging for a survey report and limits notary
fees in connection with a second mortgage loan.

FISCAL NOTE:  No impact on state funds.

HB 1059 -- CREDIT TRANSACTIONS

SPONSOR:  Liese

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Banks and Financial Institutions by a vote of 27 to 0.

This bill clarifies which financial institutions' charges for
processing a refused instrument can be charged under a small
loan.

It also permits charging for a survey report and limits notary
fees in connection with a second mortgage loan.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that this is a clean-up bill.

Testifying for the bill were Representative Liese; and the
Missouri Financial Services Association.

OPPONENTS:  There was no opposition voiced to the committee.

Bob Dominique, Research Analyst

                            CORRECTED

HB 1059 -- Credit Transactions

Sponsor:  Liese

This bill clarifies which financial institutions' charges for
processing a refused instrument can be charged under a small
loan.

It also permits charging for a survey report and limits notary
fees in connection with a second mortgage loan.