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TennesseeSB 0766114th General Assembly (2025-2026)SenateWALLET

AN ACT to amend Tennessee Code Annotated, Title 56, Chapter 37, relative to premium finance companies.

Sponsored By: Paul Bailey (Republican)

Became Law

Banks and Financial Institutions

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

New fees on premium-financed insurance payments

The law lets licensed premium finance companies add a convenience fee when you pay by card, bank transfer, e‑check, or other electronic methods. The fee cannot be more than their actual third‑party processing cost, or an average of those costs. The company must tell you the fee before you pay, let you cancel without the fee, and offer a no‑fee way to pay by check, cash, or money order directly to the company. If you choose electronic payment, the convenience fee is not refundable and is in addition to any interest and other lawful fees. They cannot charge a convenience fee on debit or prepaid cards if the card network bans it. If your payment is returned or not paid, the company may charge one handling fee per item under § 47‑29‑102. These fees do not count when deciding if a premium finance agreement breaks Tennessee usury laws.

Sponsors & Cosponsors

Sponsor

  • Paul Bailey

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 184 • No: 42

House vote • 4/14/2025

FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 4/14/2025

Yes: 82 • No: 12

House vote • 4/14/2025

HOUSE CALENDAR & RULES COMMITTEE

Yes: 17 • No: 3

House vote • 4/3/2025

FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 4/3/2025

Yes: 48 • No: 27

Senate vote • 3/10/2025

FLOOR VOTE: Motion to Adopt 3/10/2025

Yes: 30 • No: 0

Senate vote • 3/4/2025

SENATE COMMERCE AND LABOR COMMITTEE

Yes: 7 • No: 0

Actions Timeline

  1. Pub. Ch. 258

    4/29/2025

  2. Effective date(s) 04/24/2025

    4/29/2025

  3. Signed by Governor.

    4/24/2025Senate

  4. Signed by H. Speaker

    4/21/2025House

  5. Transmitted to Governor for action.

    4/21/2025Senate

  6. Signed by Senate Speaker

    4/17/2025Senate

  7. Enrolled and ready for signatures

    4/16/2025Senate

  8. Passed H., Ayes 82, Nays 12, PNV 0

    4/14/2025House

  9. H. Placed on Regular Calendar for 4/14/2025

    4/10/2025House

  10. Placed on cal. Calendar & Rules Committee for 4/10/2025

    4/9/2025House

  11. Subst. for comp. HB.

    4/3/2025House

  12. Re-ref. Calendar & Rules Committee

    4/3/2025House

  13. Rcvd. from S., held on H. desk.

    3/13/2025House

  14. Passed Senate, Ayes 30, Nays 0

    3/10/2025Senate

  15. Engrossed; ready for transmission to House

    3/10/2025Senate

  16. Placed on Senate Consent Calendar 2 for 3/10/2025

    3/7/2025Senate

  17. Recommended for passage, refer to Senate Calendar Committee

    3/4/2025Senate

  18. Placed on Senate Commerce and Labor Committee calendar for 3/4/2025

    2/25/2025Senate

  19. Placed on Senate Commerce and Labor Committee calendar for 3/4/2025

    2/25/2025Senate

  20. Passed on Second Consideration, refer to Senate Commerce and Labor Committee

    2/12/2025Senate

  21. Introduced, Passed on First Consideration

    2/10/2025Senate

  22. Filed for introduction

    2/4/2025Senate

Bill Text

  • Enrolled / Public Chapter

    PDF

  • Fiscal Note

    PDF

  • Introduced

    PDF

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