The act authorizes the administrator of the "Uniform Consumer Credit Code" to adopt rules regarding deferral charges for certain consumer credit transactions that are secured by the consumer's potential proceeds from a settlement or judgment obtained in the consumer's associated legal claim.
APPROVED by Governor June 1, 2023
EFFECTIVE August 7, 2023
NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)