THE SENATE

THE TWENTY-SECOND LEGISLATURE

REGULAR SESSION OF 2004

COMMITTEE ON COMMERCE, CONSUMER PROTECTION, AND HOUSING

Senator Ron Menor, Chair

Senator Rosalyn H. Baker, Vice Chair

MEASURES DEFERRED TO WEDNESDAY, MARCH 24, 2004

TIME:

9:00 AM

PLACE:

Conference Room 016

State Capitol

415 South Beretania Street

 

DECISION MAKING ON THE FOLLOWING MEASURE(S):

(Deferred from Monday, March 22, 2004)

HB 2143

HD2

(HSCR637)

RELATING TO BUSINESS REGULATION.

Expands the definition of gift certificate to reflect changes in retail industry technology; extends the minimum life of certificates to seven years; provides that consumers may obtain cash after utilizing 90 percent of the value of the certificate; prohibits service charges or dormancy fees; no longer requires issuers to report unclaimed amounts under the Unclaimed Property Act. (HB2143 HD2)

CPH, JHW

HB 2788

HD1

(HSCR654)

RELATING TO MORTGAGE BROKERS AND SOLICITORS.

Requires mortgage brokers and solicitors to pass examinations and fulfil continuing education requirements for licensure; regulates advertising by mortgage brokers; requires mortgage brokers to provide borrowers with written summary of rights; strengthens enforcement mechanisms and increases penalties; raises licensure bond to $50,000 and imposes fines and license forfeiture for failure to maintain bond; adds two new grounds for suspension or revocation of license; permits DCCA to adopt rules requiring disclosure of investment and marketing strategies. (HB2788 HD1)

CPH, JHW

HB 1727

HD1

(HSCR524)

RELATING TO INSURANCE FRAUD.

Amends the Insurance Code to provide immunity from civil liability for persons who provide information to prevent, investigate, or prosecute insurance fraud, unless acting with malice or committing perjury. (HB1727 HD1)

CPH, JHW
     

 

No testimony will be accepted.

FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-6740.