Amends TCA Title 45.

This bill makes revisions to the laws applicable to title pledge lenders and deferred presentment services licensees, as described below.<br /> <br /> RIGHT TO PURSUE JUDGMENT IN COURT<br /> <br /> Present law prohibits a title pledge lender from, amongst other things, making an agreement giving the lender recourse against the pledgor, other than the lender's right to take possession of the titled personal property and certificate of title upon the pledgor's default or failure to redeem, and to sell or otherwise dispose of the titled personal property.<br /> <br /> This bill revises the provision above to also give the lender the right to pursue a judgment in a court to recover from the pledgor any amount that remains outstanding following the application of any proceeds from the sale of the titled personal property.<br /> <br /> HOURS OF OPERATION<br /> <br /> Present law prohibits a title pledge lender from, amongst other things, keeping open a title pledge office before 8:00 a.m., or after 6:00 p.m., on any day during the year, with the exception of November 25 through December 24. During that period, a lender may open the place of business at 8:00 am., and close at 9:00 p.m.. However, present law prohibits a lender from opening on Sunday but does not prohibit a lender from accepting a payment pursuant to an existing title pledge or property pledge agreement at any time.<br /> <br /> This bill revises the prohibition above to provide, instead, that the title pledge lender is authorized to stay open until 7:30 p.m., instead of 6:00 p.m..<br /> <br /> RETENTION OF RECORDS<br /> <br /> Present law provides that the maker of a check has the right to redeem the check from the deferred presentment services licensee before the agreed date of deposit upon payment to the licensee of the amount of the check. Present law prohibits a licensee from deferring presentment of a personal check for more than 31 calendar days after the date the check is tendered to the licensee.<br /> <br /> This bill removes the provisions above and, instead, provides that the maker of a check has the right to redeem the check from the licensee before the agreed date of deposit upon the following:<br /> <br /> (1) Payment to the licensee of the amount of the check; or<br /> <br /> (2) Payment of a fee pursuant to an extension allowed by the terms of the agreement.<br /> <br /> However, if an agreement does not provide for continuation of the agreement by timely fee-only payment, then this bill prohibits a licensee from deferring presentment of a personal check for more than 31 calendar days after the date the check is tendered to the licensee.<br />