Senate Bill No. 661

Introduced by Senator Hill

February 22, 2013

An act to amend Section 1747.01 of the Civil Code, relating to credit cards.

LEGISLATIVE COUNSEL’S DIGEST

SB 661, as introduced, Hill. Credit cards.

The Song-Beverly Credit Card Act of 1971 expresses the intent of the Legislature that certain provisions of the act that are similar to specified federal provisions essentially conform and be interpreted to conform to those federal provisions.

This bill would make technical, nonsubstantive changes to this provision.

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

The people of the State of California do enact as follows:

SECTION 1.  

Section 1747.01 of the Civil Code is amended
to read:

1747.01.  

It is the intent of the Legislature that the provisions
of this title as to which there are similar provisions in the federal
Truth in Lending Act, as amended (15 U.S.C. 1601, et seq.),
essentially conform, and be interpreted by anyone construing the
provisions of this title to begin delete so end delete conform begin delete , end delete to the Truth in Lending Act
and any rule, regulation, or interpretation promulgated thereunder
by the Board of Governors of the Federal Reserve System, and
any interpretation issued by an official or begin insert an end insert employee of the
Federal Reserve System duly authorized to issue such
interpretation.