SB 741 Authorizes gaming establishment to provide lines of credit
Sponsor: Parson
LR Number: 5408S.03T Fiscal Note available
Committee: Small Business, Insurance and Industry
Last Action: 7/14/2014 - Governor took no action, sent to Secretary of State/Article III, Sec. 31 Journal Page:
Title: SS SB 741 Calendar Position:
Effective Date: August 28, 2014
House Handler: Scharnhorst

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Current Bill Summary

SS/SB 741 - This act authorizes gaming establishments to provide lines of credit to persons deemed creditworthy by the gaming establishment. Applicants for credit must qualify for at least $10,000 in credit. Credit may only be extended through the use of a credit instrument which shall not be due more than 30 days from the date of issuance. Credit instruments are to be unsecured loans and not bear interest. Credit instrument may not be extended to intoxicated persons.

This act is similar to HB 1342 (2014), SB 481 (2013) and HB 747 (2013).