Bill Text: AZ SB1456 | 2011 | Fiftieth Legislature 1st Regular | Introduced

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Bill Title: Small business loans; fee waiver

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2011-02-02 - Referred to Senate BI Committee [SB1456 Detail]

Download: Arizona-2011-SB1456-Introduced.html

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REFERENCE TITLE: small business loans; fee waiver

 

 

 

State of Arizona

Senate

Fiftieth Legislature

First Regular Session

2011

 

 

SB 1456

 

Introduced by

Senators Sinema: Reagan

 

 

AN ACT

 

amending title 44, Arizona Revised Statutes, by adding chapter 35; relating to small business loans.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

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

Section 1.  Title 44, Arizona Revised Statutes, is amended by adding chapter 35, to read:

CHAPTER 35

SMALL BUSINESS LOANS

ARTICLE 1.  GENERAL PROVISIONS

START_STATUTE44-7801.  Waiver of fees; definition

A.  Notwithstanding any other law, this state, any political subdivision of this state and any state regulated lender that loans monies to a small business shall waive any fee that it normally charges to the small business as a result of the loan.

B.  For the purposes of this section, "small business" means a concern, including its affiliates, that is independently owned and operated, that is not dominant in its field and that employs fewer than one hundred full-time employees. END_STATUTE