SLS 12RS-683 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012
SENATE BILL NO. 326
BY SENATORS BROOME AND DORSEY-COLOMB
LOANS. Requires the commissioner of the office of financial institutions to compile certain
information from licensees under the Louisiana Deferred Presentment and Small Loan Act.
(8/1/12)
AN ACT1
To enact R.S. 9:3578.8(C), relative to the Louisiana Deferred Presentment and Small Loan2
Act; to provide for duties of the commissioner of the office of financial institutions;3
to provide for the compiling of certain information; to require the commissioner to4
submit a report to the Louisiana Legislature by January 1, 2013; and to provide for5
related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 9:3578.8(C) is hereby enacted to read as follows: 8
ยง3578.8. Powers of the commissioner; adoption of rules and regulations9
* * *10
C.(1) Beginning September 1, 2012, for a period of one year, the11
commissioner shall collect and compile information and data from licensees12
concerning the operation, function, and customers of deferred presentment13
transaction and small loan businesses.14
(2) The information and data collected by the commissioner from a15
licensee shall include, but not be limited to, the following:16
(a) The number of deferred presentment transactions and small loans17 SB NO. 326
SLS 12RS-683 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
issued per month.1
(b) The fees collected monthly on deferred presentment transactions and2
small loans.3
(c) The location of the licensee's business.4
(d) The demographics of the customers of the licensee.5
(e) The number of checks returned unpaid for any reason and the6
amount of the fee charged by the licensee for such checks.7
(f) The number of collection suits filed by the licensee.8
C. The commissioner shall compile, publish, and submit to the9
legislature the information and data collected by January 1, 2013.10
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Michelle Ducharme.
DIGEST
Present law provides for the regulation of deferred presentment transactions and small loans
by the commissioner of the office of financial institutions ("commissioner").
Present law provides for duties of the commissioner.
Proposed law provides that beginning September 1, 2012, for a period of one year, the
commissioner shall collect and compile information and data from licensees concerning the
operation, function, and customers of deferred presentment transaction and small loan
businesses.
Proposed law provides that the information and data collected by the commissioner shall
include, but not be limited to the following:
(1)The number of loans issued monthly.
(2)Location of the licensee's business and the number of loans and deferred presentment
transactions issued per month for each licensee.
(3)The demographics of the customers of the licensee.
(4)The number of checks returned unpaid for any reason and the amount of the fee
charged by the licensee for such checks.
(5)The number of collection suits filed by the licensee.
Proposed law provides that the commissioner shall compile, publish, and submit to the
legislature the information and data collect by January 1, 2013.
Effective August 1, 2012.
(Adds R.S. 9:3578.8(C))