HB3143 HFA Shott 3-9 #1

Reese 3382

Delegate Shott moved to amend HB3143 S JUD AM #1 3-4 on page 1,  by inserting the following after “ARTICLE 4. REGULATED CONSUMER LENDERS”:

“§46A-4-101.  Authority to make loans.

Unless a person has first obtained a license from the commissioner authorizing him the person to make regulated consumer loans, he shall or she may not engage in the business of:

(1) Making regulated consumer loans; or

(2) Taking assignments of and or undertaking direct collection of payments from or enforcement of rights against consumers arising from regulated consumer loans. 

Provided, That the licensing provisions of this act do not pertain to any “collection agency” as defined in, and licensed by, the “Collection Agency Act of 1973” at W. Va. Code  §§47-16-1 et seq”.