2010 Regular Session

SENATE BILL 878

CHAPTER NUMBER: 622
File Code: Commercial Law - Credit Regulation Crossfiled with: HOUSE BILL 799
Sponsored By:
Senators Kramer, Astle, DeGrange, Della, Forehand, Garagiola, Harrington, Kelley, King, Klausmeier, Madaleno, Peters, and Pugh
Entitled:
Reverse Mortgage Homeowners Protection Act

Synopsis:

Providing that specified provisions of the Act do not require a lender that offers to make a reverse mortgage loan to offer a reverse mortgage loan with specified payment plans or to a specified borrower; requiring specified lenders and arrangers of financing to conform to the requirements of specified federal laws and guidelines under specified circumstances; providing that specified reverse mortgage loans are not subject to specified federal laws or guidelines; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
Senate Action
2/15
First Reading Senate Rules
2/19
Re-referred Finance
Hearing 3/2 at 1:00 p.m.
2/22
Hearing cancelled
2/25
Hearing 3/16 at 1:00 p.m.
3/15
Hearing cancelled
Hearing 3/23 at 1:00 p.m.
4/7
Favorable with Amendments Report by Finance
4/3
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/4
Third Reading Passed (47-0)
4/8
Returned Passed
House Action
4/1
First Reading House Rules and Executive Nominations
4/10
Re-referred Economic Matters
4/12
Favorable Report by Economic Matters
4/5
Favorable Report Adopted
Second Reading Passed
4/6
Third Reading Passed (140-0)
Action after passage in Senate and House
5/20
Approved by the Governor
- Chapter 622

Sponsored by:

Senator Rona E. Kramer, District 14
Senator John C. Astle, District 30
Senator James E. DeGrange, Sr., District 32
Senator George W. Della, Jr., District 46
Senator Jennie M. Forehand, District 17
Senator Rob Garagiola, District 15
Senator David C. Harrington, District 47
Senator Delores G. Kelley, District 10
Senator Nancy J. King, District 39
Senator Katherine Klausmeier, District 8
Senator Richard S. Madaleno, Jr., District 18
Senator Douglas J. J. Peters, District 23
Senator Catherine E. Pugh, District 40

Bill indexed under the following Subjects:

Civil Actions -see also- Small Claims
Consumer Protection -see also- Unfair Trade Practices
Counselors -see also- Social Workers
Crimes and Punishments -see also- Penalties and Sentnc; etc.
Disclosure
Federal Government
Fees -see also- Attys` Fees; Devt Fees & Taxes; Reimb Rates.
Insurance -see also- Health Ins; MAIF; Motor Vehicle Ins
Interest
Loans -see also- Mortgages
Long-Term Care -see also- Continuing Care; Nursing Homes
Mortgages
Notices
Penalties and Sentences -see also- Death Penalty
Records -see also- Land Records; Vital Records
Security Interests -see also- Liens; Mechanics` Liens
Statutes of Limitation
Unfair Trade Practices

Bill affects the following Statutes:

Commercial Law
( 12-1201 , 12-1202 , 12-1203 , 12-1204 , 12-1205 , 12-1206 , 12-1207 , 12-1208 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled, Chapter
Fiscal and Policy Note: Available
Amendments:
Senate
Number: 527473/01     Offered on: April 7, 2010   at: 1:11 p.m.     Status: Adopted
Committee Votes :
Senate
Finance
House
Economic Matters
Roll Call Votes (Legislative dates are shown):
Senate
April 4, 2010: Third Reading Passed (47-0)
House
April 6, 2010: Third Reading Passed (140-0)