Amendment #1 to H4307

Floor Amendment

Mr. Speliotis of Danvers moves to amend the bill by striking all after the enacting clause and inserting in place thereof the following:

“Section 96 of chapter 140 of the General Laws, as appearing in the 2018 Official Edition, is hereby amended by striking out the second paragraph, and inserting in place thereof the following paragraph:-

This section shall not apply to loans that are subject to section 90A or section 28B of chapter 183 nor to persons licensed under section 2 of chapter 255B or section 58 of chapter 140.” ;

And by inserting before the enacting clause the following Emergency Preamble:

“Whereas, The deferred operation of this act would tend to defeat its purpose, which is to regulate forthwith negative equity, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.”