CS/CS/HB 605: Asset Protection Products
GENERAL BILL by Commerce Committee ; Insurance & Banking Subcommittee ; Tramont
Asset Protection Products; Specifies requirement regarding amount charged or financed for vehicle value protection agreement; specifies financial security requirements for providers; requires vehicle value protection agreements to include certain written disclosures in clear & understandable language & state terms, restrictions, or conditions governing cancellation; defines "excess wear & use waiver"; authorizes retail lessee to contract with retail lessor for an excess wear & use waiver; prohibits conditioning terms of consumer's motor vehicle lease on his or her payment for any excess wear & use waiver; requires certain disclosures for lease agreement that includes an excess wear & use waiver.
Bill History
| Date | Chamber | Action |
|---|---|---|
| 11/21/2023 | House |
• Filed |
| 11/30/2023 | House |
• Referred to Insurance & Banking Subcommittee • Referred to State Administration & Technology Appropriations Subcommittee • Referred to Commerce Committee • Now in Insurance & Banking Subcommittee |
| 1/9/2024 | House |
• 1st Reading (Original Filed Version) |
| 1/16/2024 | House |
• Added to Insurance & Banking Subcommittee agenda |
| 1/18/2024 | House |
• Favorable with CS by Insurance & Banking Subcommittee |
| 1/19/2024 | House |
• Reported out of Insurance & Banking Subcommittee • Laid on Table under Rule 7.18(a) • CS Filed |
| 1/22/2024 | House |
• Referred to State Administration & Technology Appropriations Subcommittee • Referred to Commerce Committee • Now in State Administration & Technology Appropriations Subcommittee • 1st Reading (Committee Substitute 1) |
| 2/2/2024 | House |
• Added to State Administration & Technology Appropriations Subcommittee agenda |
| 2/6/2024 | House |
• Favorable by State Administration & Technology Appropriations Subcommittee • Reported out of State Administration & Technology Appropriations Subcommittee • Now in Commerce Committee |
| 2/13/2024 | House |
• Added to Commerce Committee agenda |
| 2/15/2024 | House |
• Favorable with CS by Commerce Committee |
| 2/16/2024 | House |
• Reported out of Commerce Committee • Laid on Table under Rule 7.18(a) • CS Filed |
| 2/19/2024 | House |
• Bill referred to House Calendar • 1st Reading (Committee Substitute 2) • Added to Second Reading Calendar |
| 3/4/2024 | House |
• Laid on Table |
