FORTY-FIFTH LEGISLATURE
SB 126/a

FIRST SESSION, 2001





February 9, 2001



Mr. President:



Your CORPORATIONS & TRANSPORTATION COMMITTEE, to whom has been referred



SENATE BILL 126



has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:



1. On page 2, between lines 3 and 4, add the following:



Section 2. A new section of the Credit Card Act is enacted to read:



"[NEW MATERIAL] DISCLOSURE REQUIREMENT.--A card issuer shall provide a truth in lending statement to the cardholder at the time the credit card is issued.



Section 3. A new section of the Credit Card Act is enacted to read:



"[NEW MATERIAL] EFFECTIVE DATE.--The effective date of the provisions of this act is January 1, 2002.",





and thence referred to the JUDICIARY COMMITTEE.

Respectfully submitted,





__________________________________

Roman M. Maes, III, Chairman









Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)



Date ________________________



The roll call vote was 5 For 1 Against

Yes: 5

No: Snyder

Excused: Hurt, Robinson, Sanchez, B.

Absent: None











S0126CT1