By: Cosper, Bernal, Craddick H.B. No. 2008
(Senate Sponsor - Buckingham)
(In the Senate - Received from the House May 8, 2017;
May 9, 2017, read first time and referred to Committee on Veteran
Affairs & Border Security; May 18, 2017, reported favorably by the
following vote: Yeas 7, Nays 0; May 18, 2017, sent to printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to deferred presentment transactions made to military
borrowers.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 342.604, Finance Code, is amended by
adding Subsection (c) to read as follows:
(c) A lender who engages in a deferred presentment
transaction with a member of the United States military or a
dependent of a member of the United States military must comply with
10 U.S.C. Section 987 and any regulations adopted under that law, to
the extent applicable.
SECTION 2. This Act takes effect September 1, 2017.
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