74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
SA to A-Eng. HB 2205
 
LC 874/HB 2205-A3
 
                      SENATE AMENDMENTS TO
                   A-ENGROSSED HOUSE BILL 2205
 
                    By COMMITTEE ON COMMERCE
 
                             June 5
 
  On page 1 of the printed A-engrossed bill, delete lines 9
through 12 and insert:
  ' (1) 'Consumer finance license' means a license issued under
ORS 725.140 that authorizes a person to make loans that meet the
requirements of section 3 of this 2007 Act.
  ' (2) 'Consumer finance licensee' means a person authorized to
make loans under a consumer finance license.'.
  Delete lines 14 and 15.
  In line 16, restore '(3)' and delete '(4)'.
  In line 17, delete '(5)' and insert '(4)' and delete ' grants'
and insert 'makes'.
  In line 18, delete 'granting' and insert 'making'.
  Delete lines 19 through 22 and insert:
  ' (5) 'Short term license' means a license issued under ORS
725.140 that authorizes a person to make payday loans or title
loans, as defined in ORS 725.600.'.
  In line 25, delete 'lender that is issued a consumer finance
loan license' and insert 'consumer finance licensee'.
  On page 2, line 1, delete 'lender are consumer finance loans'
and insert 'consumer finance licensee have a term of not less
than six months'.
  In line 3, before the comma insert 'made under the consumer
finance license' and delete 'lender' and insert 'licensee'.
  In line 4, delete 'consumer finance'.
  In line 6, delete 'lender' and insert 'consumer finance
licensee'.
  Delete lines 20 and 21 and insert:
  '  { +  SECTION 4. + } (1) If, under a consumer finance
license, a consumer finance licensee makes a loan secured by an
interest in a borrower's vehicle, the licensee may not retain
possession of'.
  In line 22, delete 'lender' and insert 'licensee'.
  In line 25, delete 'lender in the business of making consumer
finance loans' and insert 'consumer finance licensee'.
  In line 26, after 'loan' insert 'made under a consumer finance
license'.
  In line 28, delete 'lender in the business'.
  In line 29, delete 'of making consumer finance loans' and
insert 'consumer finance licensee' and delete 'lender' and insert
'licensee'.
  In line 30, after the period delete the rest of the line.
  Delete lines 31 and 32.
  In line 33, delete 'loan'.
  In line 34, delete 'loan'.
  In line 35, delete 'loan' in both places.
  On page 3, line 4, delete 'loan'.
  In line 5, delete 'loan'.
  In line 27, delete 'loan' in both places.
  On page 4, delete lines 2 through 4 and insert:
 
  ' (1) In accordance with ORS chapter 183, the Director of the
Department of Consumer and Business Services may adopt rules to
implement, administer and enforce this chapter and to regulate
lending terms and practices, consistent with this chapter, for
the protection of the public.'.
  Delete lines 23 through 28.
  In line 29, delete '12' and insert '11'.
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