Bill Text: AZ HB2412 | 2011 | Fiftieth Legislature 1st Regular | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Credit card agreements.

Spectrum: Bipartisan Bill

Status: (Passed) 2011-04-12 - Governor Signed [HB2412 Detail]

Download: Arizona-2011-HB2412-Introduced.html

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REFERENCE TITLE: credit card agreements.

 

 

 

State of Arizona

House of Representatives

Fiftieth Legislature

First Regular Session

2011

 

 

HB 2412

 

Introduced by

Representative Weiers J, Senator Sinema

 

 

AN ACT

 

amending sections 12‑548 and 12‑549, Arizona Revised Statutes; amending title 44, Arizona Revised Statutes, by adding chapter 35; relating to credit card agreements.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 12-548, Arizona Revised Statutes, is amended to read:

START_STATUTE12-548.  Contract in writing for debt; six year limitation

An action for debt where indebtedness is evidenced by or founded upon a contract in writing executed within the state shall be commenced and prosecuted within six years after the cause of action accrues, and not afterward, if the indebtedness is evidenced by or founded on either of the following:

1.  A contract in writing that is executed in this state.

2.  A credit card or other revolving debt agreement that is entered into pursuant to section 44‑7801.  For the purposes of this paragraph, the last payment date is the date of accrual.  If no payments occur, the charge‑off date is the date of accrual. END_STATUTE

Sec. 2.  Section 12-549, Arizona Revised Statutes, is amended to read:

START_STATUTE12-549.  Foreign judgment

A.  An action upon on a judgment or decree that is rendered in another state or foreign country shall be barred if by the laws of such state or country such action would there be barred and the judgment or decree is incapable of being otherwise enforced there.

B.  For any credit card or revolving debt agreement that is executed pursuant to section 44‑7801, the laws of this state apply. END_STATUTE

Sec. 3.  Title 44, Arizona Revised Statutes, is amended by adding chapter 35, to read:

CHAPTER 35

CREDIT CARD AGREEMENTS

ARTICLE 1.  GENERAL PROVISIONS

START_STATUTE44-7801.  Credit card agreements; laws of this state apply; definition

A.  A credit card or other revolving debt agreement that is entered into with a resident of this state is governed by the laws of this state.

B.  For the purposes of this section, "credit card" has the same meaning prescribed in section 13‑2101.END_STATUTE