Amendment AA1-AB496

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2005 - 2006 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO 2005 ASSEMBLY BILL 496

July 27, 2005 - Offered by Representative Albers.

AB496-AA1,1,1 At the locations indicated, amend the bill as follows:

AB496-AA1,1,2 1. Page 2, line 1: before that line insert:

AB496-AA1,1,3 " Section 1g. 422.303 (5m) of the statutes is created to read:

AB496-AA1,1,9 422.303 (5m) Every credit application for a motor vehicle consumer lease or a consumer credit sale of a motor vehicle shall include a notice that making a material false statement in the credit application discovered by the creditor after consummation of the consumer credit transaction constitutes a default which, under s. 425.105 (3m), the customer does not have a right to cure before the creditor may commence legal action against the customer.".

AB496-AA1,1,10 2. Page 2, line 1: delete " Section 1" and substitute "Section 1m".

AB496-AA1,1,11 (End)