SENATE AMENDMENT

    Bill No. SB 898

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
                                   .
                                   .
 1                                 .
                                   .
 2                                 .
                                   .
 3                                 .
                                   .
 4                                                                

 5

 6

 7

 8

 9

10                                                                

11  Senator Burt moved the following substitute for amendment

12  (794318):

13

14         Senate Amendment 

15         On page 1, lines 18 through 22, delete those lines

16

17  and insert:  The finance charge may not exceed 96 percent

18  simple interest under a title loan agreement during the first

19  year that it is in effect; however, the amount of interest

20  charged in any 1 month may not exceed 19 percent. A title loan

21  lender which has received interest payments of 19 percent per

22  month for 4 months may not enter into another title loan

23  agreement with the same borrower for 1 year from the inception

24  of the original title loan date.

25

26

27

28

29

30

31

                                  1
    8:46 AM   04/22/99                                s0898b-16j02