CHAPTER 279

FORMERLY

SENATE BILL NO. 216

AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO VARIABLE RATES FOR REVOLVING CREDIT PLANS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend Section 944 of Title 5 of the Delaware Code by adding at the end of that section the sentence: "Nothing herein precludes a bank from charging or reserving a right to charge, by discretion or otherwise, a rate lower than any maximum rate provided for in any schedule or formula."

Section 2. Amend Section 2217 of Title 5 of the Delaware Code by adding at the end of that section the sentence: "Nothing herein precludes a licensee from charging or reserving a right to charge, by discretion or otherwise, a rate lower than any maximum rate provided for in any schedule or formula."

Section 3. If any provision of this Act or its application to any person or circumstance is held invalid, the remainder of the Act or the application of the provision to other persons or circumstances shall not be affected.

Section 4. This Act shall take effect upon enactment.

Approved June 10, 2010