2006 Regular Session

HOUSE BILL 1288

CHAPTER NUMBER: 615 File Code: Commercial Law - Credit Regulation
Sponsored By:
Delegates Kullen, Cryor, Donoghue, Kohl, Love, Stull, Trueschler, and F. Turner
Entitled:
Credit Regulation - Loans Secured by Real Property - Insurance Coverage Requirements

Synopsis:

Clarifying that specified lenders and credit grantors may not require a borrower, as a condition to receiving or maintaining specified loans, to provide or purchase insurance coverage in an amount exceeding the replacement cost of the improvements on real property; clarifying the manner in which specified lenders and credit grantors may determine the replacement cost of improvements on real property that secures specified loans made by the lenders and credit grantors; etc.

History by Legislative Date

House Action
2/10
First Reading Economic Matters
Hearing 3/1 at 1:00 p.m.
3/22
Favorable with Amendments Report by Economic Matters
3/20
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/21
Third Reading Passed (138-1)
4/7
Returned Passed
Senate Action
3/25
First Reading Finance
3/28
Hearing 4/5 at 1:00 p.m.
4/10
Favorable Report by Finance
4/6
Favorable Report Adopted
Second Reading Passed
Motion two readings same day Const/Rule 24 (Senator Pipkin) Adopted
Third Reading Passed (46-0)
Action after passage in House and Senate
5/26
Became Law without Governor's signature per Maryland Constitution - Chapter 615

Sponsored by:

Delegate Sue Kullen, District 27B
Delegate Jean B. Cryor, District 15
Delegate John P. Donoghue, District 2C
Delegate Sheryl Davis Kohl, District 34A
Delegate Mary Ann E. Love, District 32
Delegate Paul S. Stull, District 4A
Delegate John G. Trueschler, District 42
Delegate Frank S. Turner, District 13

Bill indexed under the following Subjects:

CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
CREDIT
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
LOANS -see also- MORTGAGES
MORTGAGES
REAL PROPERTY

Bill affects the following Statutes:

Commercial Law
( 12-124 , 12-410 , 12-909 , 12-1007 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments (Displayed in WordPerfect 8 Format):
House
Number: 063399/01 (PDF)     Offered on: March 22, 2006   at: 10:36 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 21, 2006: Third Reading Passed (138-1)
Senate
April 6, 2006: Third Reading Passed (46-0)