2013 Senate Bill 34

Revise vehicle loan "guaranteed asset protection waivers"

Introduced in the Senate

Jan. 16, 2013

Introduced by Sen. Tonya Schuitmaker (R-20)

To revise a law authorizing vehicle loan "guaranteed asset protection waivers" (where a borrower pays extra for the lender to cancel or waive the amount owed on a car loan if the vehicle is wrecked or stolen), so as to allow them to also cover the death or disability of the borrower.

Referred to the Committee on Regulatory Reform