5547 AMS NELS MEND 137

SB 5547 - S AMD 222

By Senator Nelson

NOT CONSIDERED 05/25/2011

    On page 2 line 13, after "(3)" insert "A licensee is prohibited from making a small loan to a borrower until seventy-two hours have passed from the time the borrower submits and the licensee approves an application for a small loan. (4)

Renumber the remaining subsections consecutively and correct any internal references accordingly.

SB 5547 - S AMD

    By Senator Nelson

    On page 1, line 2 of the title, after "period" insert "and providing for a cooling off period"

EFFECT:  A licensee may not fund a small loan until 72 hours has passed from the time the borrower submits and the licensee approves an application for a small loan. 

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