Amendment AA2-ASA1-AB447

LRBa1530/2

MDK:cjs:md

2009 - 2010 LEGISLATURE

ASSEMBLY AMENDMENT 2, TO ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 2009 ASSEMBLY BILL 447

February 16, 2010 - Offered by Representatives Fields, Smith, Zepnick, Seidel, Hintz and Jorgensen.

AB447-ASA1-AA2,1,1 At the locations indicated, amend the substitute amendment as follows:

AB447-ASA1-AA2,1,3 1. Page 4, line 12: delete "Financial" and substitute "Payday loan database and financial".

AB447-ASA1-AA2,1,5 2. Page 6, line 23: delete "Not less than 15 minutes before" and substitute "Before".

AB447-ASA1-AA2,1,7 3. Page 7, line 17: delete "and interest" and substitute ", interest, and all other fees and charges".

AB447-ASA1-AA2,1,10 4. Page 11, line 4: before "by returning" insert "or, if the place of business where the loan is made is open 24 hours, before 5 p.m. on the next day of business after the loan is made,".

AB447-ASA1-AA2,1,12 5. Page 12, line 9: delete "and interest" and substitute ", interest, and all other fees and charges".

AB447-ASA1-AA2,2,3 6. Page 12, line 13: after "by rule" insert ", except that the division may not require the submission of, and a payday loan provider may not submit, a customer's financial establishment account or routing numbers".

AB447-ASA1-AA2,2,4 7. Page 12, line 21: delete "of no more".

AB447-ASA1-AA2,2,5 8. Page 12, line 21: delete "by rule".

AB447-ASA1-AA2,2,7 9. Page 12, line 22: delete "than $1" and substitute "in an amount specified by rule".

AB447-ASA1-AA2,2,8 10. Page 13, line 17: after "sell" insert "or provide".

AB447-ASA1-AA2,2,11 11. Page 13, line 18: after "customer" insert ", except that the prohibition on providing information does not apply to information that is provided to satisfy the requirements of this section or to enforce this section".

AB447-ASA1-AA2,2,12 12. Page 13, line 21: after "interest" insert "and all other fees and charges".

AB447-ASA1-AA2,2,14 13. Page 14, line 12: delete lines 12 and 13 and substitute "in the borrower's motor vehicle.".

AB447-ASA1-AA2,2,15 (End)