SB425 HB&I AMT 4-1
The Committee on Banking and Insurance moves to amend the bill
on page 1, by striking the title and inserting in lieu thereof a
new title, to read as follows:
"
A BILL to amend and reenact §46A-4-111 of the Code of West
Virginia, 1931, as amended, relating to refinancing or
consolidation of certain loans or consumer credit sales by
regulated consumer lenders; requiring disclosure of a higher
annual percentage rate in any refinancing or consolidation of
a nonrevolving consumer loan or consumer credit sale; and
requiring a documentation of a reasonable, net tangible
benefit to the borrower of any refinancing or consolidation of
a nonrevolving consumer loan or consumer credit sale secured
by residential real estate.
"
Adopted
Rejected