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1998 SESSION

• | print version

HB 700 Banking; second mortgages.

Introduced by: Vincent F. Callahan, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Banking; subordinate mortgages. Allows a lender making a subordinate mortgage loan to collect (i) a fee for having the secured property examined to determine if it is in a flood plain and (ii) a prepayment fee not to exceed two percent of the principal amount of the loan for prepayment of the loan in full. The bill prohibits a lender from collecting a prepayment penalty in the event of partial prepayment or where there is a payment of the outstanding balance on an open-end loan without demand to release the evidence of indebtedness.

FULL TEXT

• 01/23/98  House: Presented & ordered printed 980835144  pdf
• 02/03/98  House: Printed as engrossed 980835144-E  pdf
• 02/27/98  House: Bill text as passed House and Senate (HB700ER)  pdf
• 03/18/98  Governor: Acts of Assembly Chapter text (CHAP0089)  pdf

AMENDMENTS

• House amendments

HISTORY

• 01/23/98  House: Presented & ordered printed 980835144
• 01/23/98  House: Referred to Committee on Corporations, Insurance and Banking
• 01/26/98  House: Assigned to C. I. B. sub-committee: 2
• 01/29/98  House: Reported from C. I. B. w/amds. (25-Y 0-N)
• 01/30/98  House: Read first time
• 02/02/98  House: Read second time
• 02/02/98  House: Committee amendments agreed to
• 02/02/98  House: Title replaced
• 02/02/98  House: Passed by for the day
• 02/03/98  House: Read second time
• 02/03/98  House: Amendment by Mr. Callahan agreed to
• 02/03/98  House: Engrossed by House as amended
• 02/03/98  House: Printed as engrossed 980835144-E
• 02/04/98  House: Read third time and passed House (81-Y 16-N)
• 02/04/98  House: VOTE: PASSAGE (81-Y 16-N)
• 02/04/98  House: Communicated to Senate
• 02/05/98  Senate: Constitutional reading dispensed
• 02/05/98  Senate: Referred to Committee on Commerce and Labor
• 02/23/98  Senate: Reported from Commerce and Labor (13-Y 1-N)
• 02/24/98  Senate: Const. reading disp., passed by for the day (39-Y 0-N)
• 02/24/98  Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
• 02/25/98  Senate: Read third time
• 02/25/98  Senate: Passed Senate (38-Y 2-N)
• 02/25/98  Senate: VOTE: PASSAGE R (38-Y 2-N)
• 02/27/98  House: Bill text as passed House and Senate (HB700ER)
• 03/04/98  House: Enrolled
• 03/04/98  House: Signed by Speaker
• 03/06/98  Senate: Signed by President
• 03/13/98  Governor: Approved by Governor-Chapter 89 (effective 7/1/98)
• 03/18/98  Governor: Acts of Assembly Chapter text (CHAP0089)