5899-S AMS JAYA S2365.1
SSB 5899 - S AMD 173
By Senator Jayapal
ADOPTED 3/10/2015
On page 25, at the beginning of line 7, strike "ten" and insert "fifteen days, unless the borrower is paid monthly, and then thirty"
EFFECT: A lender may not take action or charge a late penalty on a delinquent small consumer installment loan unless the loan is fifteen or thirty days late, depending on the paycheck schedule of the borrower.
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