1999 Regular Session

SENATE BILL 347

File Code: Financial Institutions Prior Year Introduction As: SB 90/98 - FIN Crossfiled with: HOUSE BILL 973
Sponsored By:
Senators Dorman and Astle
Entitled:
Mortgage Brokers - Insurance Agents - Collection of a Finder's Fee

Synopsis:

Authorizing a mortgage broker who acts also as an insurance agent in arranging or procuring insurance for a subject property or transaction to collect a finder's fee for services performed as a mortgage broker if the mortgage broker provides a specified written disclosure to the borrower; providing that a violation of the Act shall be deemed to be a violation of law relating to insurance for which the Maryland Insurance Commissioner may take specified disciplinary actions; etc.

History by Legislative Date

Senate Action
2/5
First Reading Finance
2/9
Hearing 2/23 at 1:00 p.m.
3/25
Withdrawn
House Action
No Action
Sponsored by:
Senator Arthur Dorman, District 21
Senator John C. Astle, District 30
Bill indexed under the following Subjects:
AGENTS AND BROKERS
CONSUMER PROTECTION -see also- ADVTG.; LABELING; WARRANTIES.
DISCLOSURE
FEES -see also- DEVELOPMENT FEES AND TAXES
INSURANCE ADMINISTRATION
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
MORTGAGES
SUNSET
Bill affects the following Statutes:
Commercial Law
( 12-801 , 12-805 , 12-808 )
Financial Institutions
( 11-501 )
Insurance
( 27-912 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)

Amendments: None offered