SB 125 Modifies the law relating to title loans
Sponsor: Keaveny
LR Number: 0791S.01I Fiscal Note: 0791-01N.ORG
Committee: Financial and Governmental Organizations and Elections
Last Action: 4/11/2011 - SCS Voted Do Pass S Financial and Governmental Organizations and Elections Committee - (0791S.02C) Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2011

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Current Bill Summary


SCS/SB 125 - This act modifies the law relating to title loans.

This act specifies that the title loan laws apply to those who should be licensed as title lenders including those selling disguised title loans and those engaged in subterfuge for the purposes of evading title lender regulations.

This act caps the duration of a title loan agreement at 45 days.

Persons shall not use the terms "title loans", "title lending", or other designations indicating the person is a title lender.

CHRIS HOGERTY