SB0755 (CH0340)

Find a 2018 Bill:

2018 Regular Session



Credit Regulation - Escrow Accounts - Water and Sewer Facilities Assessments

Sponsored by:

Senator Peters


Approved by the Governor - Chapter 340

Synopsis:Authorizing a certain lending institution that makes a certain loan secured by a certain first mortgage or first deed of trust to create a certain escrow account solely for the payment of water and sewer facilities assessments on a certain request; providing that certain provisions of law do not apply to the payment of water and sewer facilities assessments under a certain direct reduction method; providing that funds in a certain escrow account for use for certain purposes may not be used in a certain manner; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senator Peters
Additional Facts:Bill File Type: Regular
Effective Date(s): October 1, 2018
Finance  View Committee HearingEconomic Matters  View Committee Hearing
Broad Subject(s):Commercial Law - Credit Regulation
Narrow Subject(s):Assessments
Escrow Accounts
Fees -see also- Attys' Fees; Devt Fees & Taxes; Reimb Rates
Financial Institutions -see also- Banks; Credit Unions; etc.
Liens -see also- Mechanics' Liens
Loans -see also- Mortgages
Prices -see also- Consumer Price Index
Real Property
Records -see also- Land Records; Vital Records
Statutes:Article - Commercial Law
(12-1026, 12-109, 12-109.1, 13-316)

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Explanation of Floor Motions and Actions

April 27, 2018 1:13 P.M.