Senate Bill 169
140th General Assembly (1999 - 2000)
Bill Progress
Signed 7/2/99
The General Assembly has ended, the current status is the final status.
Bill Details
6/3/99
AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO THE MOTOR VEHICLE SALES FINANCE ACT.
This bill is intended to correct a problem being experienced by dealers in Delaware due to the recent revision of Regulation Z (the Truth in Lending Act) as it pertains to negative equity. A number of captive finance companies are concerned that the laws of Delaware and other states do not specifically allow them to finance contracts in which negative equity is disclosed pursuant to the new Federal Reserve Board Regulations. This proposal would specifically allow for the financing of prior loan balances in retail installment contracts.
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Takes effect upon being signed into law
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Amendments
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Committee Report Details
Favorable:
On its Merits:
Unfavorable: