Arizona future
March 12, 2010 | Arizona, industry, regulation | Comments (0)From the AZStar:
Even if payday lenders get a majority of lawmakers and the governor to go along and allow them to continue doing business after June 30, payday-loan shops likely will have to shut down, at least temporarily.
A simple majority vote enacts a law 90 days after the regular legislative session ends. And at this point the earliest lawmakers are likely to wrap up their business is the end of April, meaning payday lenders couldn’t resume business until August.
It would take a two-thirds vote of both the House and Senate, as well as the governor’s signature, for immediate enactment.
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