CERTIFICATION OF ENROLLMENT

ENGROSSED SUBSTITUTE SENATE BILL 5415

Chapter 256, Laws of 2005

59th Legislature
2005 Regular Session



MILITARY BORROWERS



EFFECTIVE DATE: 7/24/05

Passed by the Senate April 18, 2005
  YEAS 43   NAYS 0

BRAD OWEN
________________________________________    
President of the Senate
Passed by the House April 15, 2005
  YEAS 66   NAYS 28

FRANK CHOPP
________________________________________    
Speaker of the House of Representatives


 
CERTIFICATE

I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is ENGROSSED SUBSTITUTE SENATE BILL 5415 as passed by the Senate and the House of Representatives on the dates hereon set forth.

THOMAS HOEMANN
________________________________________    
Secretary
Approved May 3, 2005.








CHRISTINE GREGOIRE
________________________________________    
Governor of the State of Washington		 
FILED
May 3, 2005 - 4:51 p.m.







Secretary of State
State of Washington


_____________________________________________ 

ENGROSSED SUBSTITUTE SENATE BILL 5415
_____________________________________________

AS AMENDED BY THE HOUSE

Passed Legislature - 2005 Regular Session
State of Washington59th Legislature2005 Regular Session

By Senate Committee on Financial Institutions, Housing & Consumer Protection (originally sponsored by Senators Fairley and Kline)

READ FIRST TIME 02/22/05.   



     AN ACT Relating to making loans under chapter 31.45 RCW to military borrowers; and adding a new section to chapter 31.45 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1   A new section is added to chapter 31.45 RCW to read as follows:
     (1) A licensee shall:
     (a) When collecting any delinquent small loan, not garnish any wages or salary paid for service in the armed forces;
     (b) Defer for the duration of the posting all collection activity against a military borrower who has been deployed to a combat or combat support posting for the duration of the posting;
     (c) Not contact the military chain of command of a military borrower in an effort to collect a delinquent small loan;
     (d) Honor the terms of any repayment agreement between the licensee and any military borrower, including any repayment agreement negotiated through military counselors or third party credit counselors; and
     (e) Not make a loan from a specific location to a person that the licensee knows is a military borrower when the military borrower's commander has notified the licensee in writing that the specific location is designated off-limits to military personnel under their command.
     (2) For purposes of this section, "military borrower" means any active duty member of the armed forces of the United States, or any member of the national guard or the reserves of the armed forces of the United States who has been called to active duty.


         Passed by the Senate April 18, 2005.
         Passed by the House April 15, 2005.
         Approved by the Governor May 3, 2005.
         Filed in Office of Secretary of State May 3, 2005.