2013 Regular Session



Refinancing of First Mortgage Loans - Subordination

Sponsored by:

Senator Klausmeier


In the Senate - Unfavorable Report by Judicial Proceedings; Withdrawn

Synopsis:Providing that a secondary mortgage loan, or a secondary lien, shall retain the same subordinate position with respect to a mortgage or deed of trust securing a refinanced loan without requiring the agreement to the refinancing of the lender of the secondary mortgage loan, or the credit grantor of the loan secured by the secondary lien, under specified circumstances; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senator Klausmeier
Additional Facts:Cross-filed with: HB0522
Bill File Type: Regular
Effective Date(s): October 1, 2013
Judicial Proceedings
Broad Subject(s):Commercial Law - Credit Regulation
Narrow Subject(s):Deeds
Financial Institutions -see also- Banks; Credit Unions; etc.
Liens -see also- Mechanics' Liens
Loans -see also- Mortgages
Statutes:Article - Commercial Law
(12-1001, 12-401, 12-1010.1, 12-408.1)

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Explanation of Floor Motions and Actions

October 24, 2017 1:08 P.M.