SLS 11RS-236 ORIGINAL
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, 2011
SENATE BILL NO. 88
BY SENATOR SMITH
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
LOANS. Provides relative to motor vehicle loan documentation and compliance fees.
(8/15/11)
AN ACT1
To enact R.S. 6:969.18(A)(7), relative to the Louisiana Motor Vehicle Sales Finance Act;2
to provide for maximum charges allowed for documentation and compliance fees;3
and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 6:969.18(A)(7) is hereby enacted to read as follows: 6
ยง969.18. Documentation and compliance fees; notary fees; transfer of equity and7
other fees; disclosure8
A. * * *9
(7) Notwithstanding the limitation provided for in Paragraph (1) of this10
Subsection or any other law to the contrary, a federally insured depository11
institution, its subsidiary, holding company or affiliate, that extends credit12
under this Chapter may contract for and receive compensation for loan13
documentation in any amount agreed to in a written agreement signed by the14
consumer.15
* * *16 SB NO. 88
SLS 11RS-236 ORIGINAL
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 and the following digest, which constitutes no part
of the legislative instrument, were prepared by Alan Miller.
DIGEST
Proposed law permits a federally insured depository institution, its subsidiary, holding
company or affiliate, that extends credit under the Louisiana Motor Vehicle Sales Finance
Act to contract for and receive compensation for loan documentation in any amount agreed
to in a written agreement signed by the consumer.
Effective August 15, 2011.
(Adds R.S. 6:969.18(A)(7))