1709-S.E AMS PRID MEND 084

ESHB 1709 - S AMD 331

By Senator Pridemore

NOT ADOPTED 4/13/2009

    Beginning on page 3, line 35, strike all material through "(22)" on page 4, line 1 and insert the following:

"(((20)))(22) "Successive loan((s))" means a ((series of loans made by the same licensee to the same borrower in such a manner that no more than three business days separate the termination date of any one loan and the origination date of any other loan in the series)) loan made to a borrower within thirty days of when a previous small loan by any licensee was paid.

(23)"

    On page 5, line 8 after "(5)" insert "A licensee is prohibited from making a successive loan to a borrower."

    Renumber the sections consecutively and correct any internal references accordingly.

EFFECT:    The definition of successive loan is amended.  A licensee may not make a small loan to a borrower until 30 days after a previous small loan, by any licensee, is paid.

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