Raised H.B. No. 5427
Session Year 2020
 


AN ACT CONCERNING ISSUES RELATING TO DEBT COLLECTION.

To (1) require financial institutions to leave the lesser of the account balance or one thousand dollars in a judgment debtor's account during a bank execution; (2) increase the amount of the threshold of the aggregate cash price of a repossessed motor vehicle or boat for purposes of the formula for calculating the prima facie fair market value of such motor vehicle or boat; (3) eliminate extension options and establish a firm ten-year statute of limitations for the enforcement of small claims judgments; and (4) clarify that credit card charges for the purchase of goods and services are not to be considered moneys loaned for purposes of post-judgment interest.

Introduced by:
Banking Committee

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Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 3/4/2020Public Hearing 03/10
 3/3/2020Referred to Joint Committee on Banking

Co-sponsors of HB-5427

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