SLS 10RS-1814 REENGROSSED
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2010
SENATE BILL NO. 725
BY SENATOR DUPLESSIS
CREDIT. Provides for disclosure of applicable fees in credit contracts. (8/15/10)
AN ACT1
To amend and reenact R. S. 9:3514(B), relative to consumer credit contracts; to provide for2
the contents of credit contracts and agreements; and to provide for related matters.3
Be it enacted by the Legislature of Louisiana:4
Section 1. R. S. 9:3514(B) is hereby amended and reenacted to read as follows: 5
ยง3514. Agreement to contract; disclosures of the contract6
* * *7
B. Written credit contracts and agreements shall accurately reflect the actual8
terms, conditions, applicable amount of fees, and repayment schedule agreed to by9
the parties. If a loan is to be repaid on demand, in a lump sum, or at undefined10
intervals of time, interest on the loan shall be computed by the actuarial or simple11
interest method when allocating payments made on the loan.12 SB NO. 725
SLS 10RS-1814 REENGROSSED
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
The original instrument was prepared by Linda Nugent. The following digest,
which does not constitute a part of the legislative instrument, was prepared
by McHenry Lee.
DIGEST
Duplessis (SB 725)
Present law requires that written credit contracts and agreements under the Louisiana
Consumer Credit Law accurately reflect the actual terms, conditions, and repayment
schedule agreed to by the parties. Proposed law retains present law and requires that the
applicable amount of fees also be reflected in the contracts and agreements.
Effective August 15, 2010.
(Amends R.S. 9:3514(B))
Summary of Amendments Adopted by Senate
Senate Floor Amendments to engrossed bill.
1. Specifies that written credit contracts and agreements shall reflect applicable
amount of fees.