SB 1110 - Barnitz, Frank
Requires those who contract to receive repossessed vehicles to deliver surety bonds
Bill Details
Sponsor
LR Number
4766S.01I
Title
SB 1110
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2006
Current Status
Hearing Conducted S Financial & Governmental Organizations and Elections Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 1110 - Before entering into any nonprepayment vehicle repossession contract, the party contracting to receive delivery of the vehicle shall file a bond with the attorney general in the amount of $25,000 to secure faithful performance of the contract. The Attorney General has the authority to demand additional bond if the original appears inadequate, insecure, exhausted, or otherwise doubtful.
CHRIS HOGERTY