HLS 10RS-2819 ENGROSSED
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2010
HOUSE BILL NO. 1350
BY REPRESENTATIVE ARNOLD
CREDIT/CONSUMER: Requires disclosure of fees in consumer credit contracts
AN ACT1
To amend and reenact R.S. 9:3514(B), relative to the Louisiana Consumer Credit Law; to2
require disclosure of applicable fees in written consumer credit contracts and3
agreements; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 9:3514(B) is hereby amended and reenacted to read as follows: 6
ยง3514. Agreement to contract; disclosures of the contract7
* * *8
B. Written credit contracts and agreements shall accurately reflect the actual9
terms, conditions, applicable fees, and repayment schedule agreed to by the parties.10
If a loan is to be repaid on demand, in a lump sum, or at undefined intervals of time,11
interest on the loan shall be computed by the actuarial or simple interest method12
when allocating payments made on the loan.13
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Arnold HB No. 1350
Abstract: Requires disclosure of applicable fees in written consumer credit contracts and
agreements. HLS 10RS-2819 ENGROSSED
HB NO. 1350
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Present law requires written credit contracts and agreements to accurately reflect the actual
terms, conditions, and repayment schedule agreed to by the parties of a consumer credit
transaction.
Proposed law retains present law but adds applicable fees to the items of information that
shall be included in the contract or agreement.
(Amends R.S. 9:3514(B))