SLS 16RS-493 ORIGINAL
2016 Regular Session
SENATE BILL NO. 311
BY SENATOR BARROW
LOANS. Provides relative to deferred presentment and small loans. (8/1/16)
1 AN ACT
2 To amend and reenact R.S. 9:3578.4(C), relative to loans; to provide relative to deferred
3 presentment and small loans; to provide certain procedures and conditions for
4 deferred presentment and small loans; to provide certain terms, requirements, and
5 effects; to provide relative to certain unauthorized charges; and to provide for related
6 matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 9:3578.4(C) is hereby amended and reenacted to read as follows:
9 ยง3578.4. Finance charge and fees
10 * * *
11 C. Except for reasonable attorney fees and costs awarded by a court, and fees
12 allowed under R.S. 9:3529 and 3530(C), no other fees or charges may be assessed
13 or collected on a deferred presentment transaction or small loan, including any other
14 fees as may be provided for under Chapter 2 of this Code Title or any other law. The
15 commissioner shall promulgate rules and regulations for dissemination of
16 information regarding the rights of persons who have been assessed fees or
17 charges in violation of this Section.
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 311
SLS 16RS-493 ORIGINAL
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Jerry G. Jones.
DIGEST
SB 311 Original 2016 Regular Session Barrow
Present law provides definitions, terms, procedures and effects for deferred presentment
transactions and small loans.
Present law further provides that only certain fees and charges may be assessed or collected
on a deferred presentment transaction or small loan, and that no other fees and charges may
be assessed or collected. Proposed law retains present law and adds that the commissioner
shall promulgate rules and regulations for dissemination of information regarding the rights
of persons who have been assessed fees or charges in violation of present law.
Effective August 1, 2016.
(Amends R.S. 9:3578.4(C))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.