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2005 SESSION

• | print version

SB 1005 Mortgage satisfaction; provisions.

Introduced by: Jeannemarie D. Davis | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Mortgage satisfaction.  Imports into the Virginia Code provisions of the Uniform Residential Mortgage Satisfaction Act relating to definitions, notifications, rescinding erroneously recorded certificates of satisfaction, requirements on secured creditors, and the form and effect of satisfaction. Current Code provisions relating to payoff statements, mortgage satisfaction via settlement agents and court proceedings, and penalties for errors or omissions in satisfaction procedures are retained.  The bill will not become effective unless reenacted by the General Assembly, except for one section which is scheduled to be become effective July 1, 2005, which requires the Virginia Information Technology Agency to develop standards to implement electronic recording of real property documents.

FULL TEXT

• 01/11/05  Senate: Prefiled & ordered printed; offered 01/12/05 053730726  pdf
• 01/31/05  Senate: Committee substitute printed 053848726-S1  pdf | impact statement
• 03/02/05  Senate: Bill text as passed Senate and House (SB1005ER)  pdf | impact statement
• 04/04/05  Governor: Acts of Assembly Chapter text (CHAP0749)  pdf

HISTORY

• 01/11/05  Senate: Prefiled & ordered printed; offered 01/12/05 053730726
• 01/11/05  Senate: Referred to Committee for Courts of Justice
• 01/31/05  Senate: Reported from Courts of Justice w/sub (14-Y 0-N)
• 01/31/05  Senate: Committee substitute printed 053848726-S1
• 02/01/05  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/01/05  Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
• 02/02/05  Senate: Read second time
• 02/02/05  Senate: Reading of substitute waived
• 02/02/05  Senate: Committee substitute agreed to 053848726-S1
• 02/02/05  Senate: Engrossed by Senate - committee substitute SB1005S1
• 02/03/05  Senate: Read third time and passed Senate (39-Y 0-N)
• 02/03/05  Senate: VOTE: PASSAGE R (39-Y 0-N)
• 02/03/05  Senate: Communicated to House
• 02/08/05  House: Placed on Calendar
• 02/08/05  House: Read first time
• 02/08/05  House: Referred to Committee for Courts of Justice
• 02/14/05  House: Reported from Courts of Justice (22-Y 0-N)
• 02/16/05  House: Read second time
• 02/17/05  House: Read third time
• 02/17/05  House: Passed House BLOCK VOTE (97-Y 0-N)
• 02/17/05  House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
• 03/02/05  Senate: Enrolled
• 03/02/05  Senate: Bill text as passed Senate and House (SB1005ER)
• 03/03/05  House: Signed by Speaker
• 03/04/05  Senate: Signed by President
• 03/26/05  Governor: Approved by Governor-Chapter 749 (effective - see bill)
• 04/04/05  Governor: Acts of Assembly Chapter text (CHAP0749)