CODING: Words stricken are deletions; words underlined are additions.
SENATE AMENDMENT
Bill No. SB 898
Amendment No.
CHAMBER ACTION
Senate House
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11 Senator Childers moved the following substitute for amendment
12 (794318):
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14 Senate Amendment
15 On page 1, lines 18 through 22, of amendment 910342,
16 delete the underscored words on those lines
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18 and insert: The finance charge may not exceed 96 percent
19 simple interest under a title loan agreement during the first
20 year it is in effect; however, the amount of interest charged
21 in any one month may not exceed 19 percent, and a title loan
22 lender may charge no more than 19 percent per month for 4
23 months during the first year and no more than 1 percent per
24 month thereafter. At the option of the lender, the finance
25 charge may be set at 8 percent per month on a 12-month
26 contract.
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