HLS 10RS-1426 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. 547
BY REPRESENTATIVE ARNOLD
CREDIT/CONSUMER: Provides relative to fees charged on consumer credit transactions
AN ACT1
To enact R.S. 9:3530(G), relative to fees charged on a consumer credit transaction; to2
authorize a federally insured depository institution to charge fees on consumer credit3
transactions; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 9:3530(G) is hereby enacted to read as follows: 6
ยง3530. Fees; origination; notary, documentation; over-the-credit-limit fee7
* * *8
G. Notwithstanding the limitations set in this Section or any other law to the9
contrary, a federally insured depository institution entering into a consumer credit10
transaction as defined in R.S. 9:3516(13) may contract for and receive the types of11
fees provided for in this Section in any amount agreed to in a written agreement12
signed by the consumer. Fees charged under this Subsection by a federally insured13
depository institution shall not be considered loan finance charges or credit service14
charges under this Chapter and are nonrefundable and not subject to rebate.15 HLS 10RS-1426 ENGROSSED
HB NO. 547
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
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. 547
Abstract: Authorizes a federally insured depository institution to charge fees on consumer
credit transactions.
Proposed law authorizes a federally insured depository institution entering into a consumer
credit transaction to contract for and receive fees in any amount agreed to in a written
agreement signed by the consumer. Fees charged by a federally insured depository
institution shall not be considered loan finance charges or credit service charges and are
nonrefundable and not subject to rebate.
(Adds R.S. 9:3530(G))