Act 244 of 2005 - DEFERRED PRESENTMENT SERVICE TRANSACTIONS ACT (487.2121 - 487.2173)
- 244-2005-1 - ARTICLE 1 (487.2121...487.2122)
- 244-2005-2 - ARTICLE 2 (487.2131...487.2142)
- Section 487.2131 - Business of providing deferred presentment service transactions; license required; scope of act; application process and timeline; bulletin, order, or rule.
- Section 487.2132 - Licensure requirements.
- Section 487.2133 - Application; writing; oath; form; information; fee.
- Section 487.2134 - License fees; disposition; surety bond.
- Section 487.2135 - Issuance of license upon investigation that requirements satisfied; posting copy of license.
- Section 487.2136 - Denial of application or failure to act within certain time period; hearing.
- Section 487.2137 - License not transferable or assignable; change in control; duties of licensee; request for information or documentation; "control" defined.
- Section 487.2138 - Report describing certain event.
- Section 487.2139 - Expiration and renewal of license.
- Section 487.2140 - Enforcement and implementation of act; issuance of orders and rules; correction of inaccurate information; duties of licensee if database not operational; examination of business, b
- Section 487.2141 - Books, accounts, and records; preservation.
- Section 487.2142 - Development, implementation, and maintenance of database.
- 244-2005-3 - ARTICLE 3 (487.2151...487.2160)
- Section 487.2151 - Notice; posting; form.
- Section 487.2152 - Written deferred presentment service agreement; signatures; provisions; arbitration.
- Section 487.2153 - Transaction; limitation on amount; service fee; conditions prohibiting entering transaction; duties of licensee; prohibited conduct; sign.
- Section 487.2154 - Customer eligibility; verification; use of database; fee; submission of information to database; closure of transaction.
- Section 487.2155 - Renewal or extension of agreement; repayment option; conditions; terms; notice; satisfaction of drawer's obligation.
- Section 487.2156 - Violation of act.
- Section 487.2157 - Rescission of agreement; redemption of check by drawer.
- Section 487.2158 - Endorsement of check; returned check charge; liability for dishonored check.
- Section 487.2159 - Agreements; maintenance; availability for examination; rejected applications.
- Section 487.2160 - Prohibited conduct.
- 244-2005-4 - ARTICLE 4 (487.2165...487.2173)
- Section 487.2165 - Customer complaint; filing; investigation or examination by commissioner; subpoena; noncompliance.
- Section 487.2166 - Cease and desist order.
- Section 487.2167 - Suspension, revocation, or termination of license.
- Section 487.2168 - Violations; civil fines.
- Section 487.2169 - Fraud.
- Section 487.2170 - Hearing.
- Section 487.2171 - Rules; report.
- Section 487.2172 - Person providing services before effective date of act; compliance.
- Section 487.2173 - Civil cause of action; damages.