5968-S AMS STAN S4627.1

SSB 5968 - S AMD 534

By Senator Stanford

PULLED 02/07/2024

Beginning on page 7, line 37, strike all of section 2

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

Beginning on page 12, line 6, strike all of section 4

SSB 5968 - S AMD 534

By Senator Stanford

PULLED 02/07/2024

On page 1, beginning on line 2 of the title, after "31.04.015" strike ", 31.04.027, 31.04.102, and 31.04.105" and insert "and 31.04.102"

EFFECT: Removes additional violations of the Consumer Loan Act that were specific to home equity sharing agreements. Removes language restricting licensees under the Consumer Loan Act to making home equity sharing agreements at a rate that does not exceed the equivalent of 20 percent per year as determined by the simple interest method of calculating interest owed is removed.

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