HCS HB 540 -- LENDING INSTITUTION SERVICES (Jones, 89)

COMMITTEE OF ORIGIN:  Special Committee on General Laws

This substitute allows lending institutions to sell deficiency
waiver addendums, guaranteed asset protections, or similar
products purchased as part of a loan transaction with collateral
at the borrower's option if the cost of the product is disclosed
in the loan contract.

Lenders may offer, sell, and finance automobile club memberships,
home and auto security plans, and other plans and services that
benefit a borrower.

FISCAL NOTE:  No impact on state funds in FY 2010, FY 2011, and
FY 2012.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am