1.1.................... moves to amend H.F. No. 914, the first engrossment, as follows:
1.2Page 2, line 16, delete "
2010" and insert "
2009"
1.3Page 3, line 6, after the period insert "
A "consumer short term loan" does not include
1.4any transaction made under chapter 325J."
1.5Page 3, line 15, after "
the" insert "
state of"
1.6Page 3, line 16, delete "
courts"
1.7Page 4, line 15, delete "
six" and insert "
five"
1.8Page 4, delete line 17
1.9Page 4, line 18, delete "
(iv)" and insert "
(iii)"
1.10Page 4, line 19, delete "
(v)" and insert "
(iv)"
1.11Page 4, line 25, after "
(a)" insert "
Except for a "bona fide error" as set forth under
1.12United States Code, chapter 15, section 1640(c),"
1.13Page 4, delete lines 32 to 34 and insert:
1.14"
(b) In addition to the remedies provided in paragraph (a), a loan is void, and the
1.15borrower is not obligated to pay any amounts owing if the loan is made:
1.16(1) by a consumer short-term lender who has not obtained an applicable license
1.17from the commissioner;
1.18(2) in violation of any provision of subdivisions 2, 3, 4, or 5 of this section; or
1.19(3) in which interest, fees, charges, or loan amounts exceed the interest, fees, charges,
1.20or loan amounts allowable under sections 47.59, subdivision 6, and 47.60, subdivision 2."
1.21Page 5, line 20, delete "
2010" and insert "
2009"