SB0392 (CH0484)

Find a 2017 Bill:

2017 Regular Session



Credit Regulation - Closed End Credit Loans - Elimination of Duplicative Disclosures

Sponsored by:

Senator Hershey


Approved by the Governor - Chapter 484

Synopsis:Providing that a specified disclosure provided by a lender to a borrower in compliance with a specified federal law shall satisfy specified disclosure requirements under provisions of law governing closed end credit loans secured by a first mortgage or first deed of trust on residential real property; requiring the Commissioner of Financial Regulation to monitor specified federal requirements and notify the Governor and the General Assembly if the Commissioner makes a specified determination; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senators Hershey, Astle, Benson, Feldman, Jennings, Klausmeier, Mathias, Middleton, Oaks, Reilly, and Rosapepe
Additional Facts:Bill File Type: Regular
Effective Date(s): July 1, 2017
Finance  View Committee HearingEconomic Matters  View Committee Hearing
Broad Subject(s):Commercial Law - Credit Regulation
Narrow Subject(s):Credit
Federal Government
Financial Institutions -see also- Banks; Credit Unions; etc.
Financial Regulation, Division of
Loans -see also- Mortgages
Real Property
Residency -see also- Immigrants and Citizenship
Statutes:Article - Commercial Law
(12-1022, 12-125)

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Explanation of Floor Motions and Actions

November 28, 2017 1:10 P.M.