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Legislation


2012 Regular Session

SENATE BILL 451

File Code: Commercial Law - Credit Regulation Crossfiled with: HOUSE BILL 674
Sponsored By:
Senators Middleton, Astle, Glassman, Kelley, Kittleman, Klausmeier, and Pipkin
Entitled:
Credit Regulation - Finder's Fees - Table-Funded Loans

Synopsis:

Altering the definitions of "finder's fee", "lender", and "mortgage broker" for purposes of provisions of law governing finder's fees charged by mortgage brokers to clarify that, in a table-funded mortgage loan transaction, fees charged by the person named as the lender in specified documents evidencing the loan indebtedness are not considered finder's fees; establishing a specified statute of limitations; applying the Act; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
Senate Action
2/2
First Reading Finance
Hearing 2/21 at 1:00 p.m.
2/20
Hearing cancelled
House Action
No Action

Sponsored by:

Senator Thomas M. Middleton, District 28
Senator John C. Astle, District 30
Senator Barry Glassman, District 35
Senator Delores G. Kelley, District 10
Senator Allan H. Kittleman, District 9
Senator Katherine Klausmeier, District 8
Senator E. J. Pipkin, District 36

Bill indexed under the following Subjects:

Agents and Brokers
Civil Actions -see also- Small Claims
Fees -see also- Attys' Fees; Devt Fees & Taxes; Reimb Rates.
Loans -see also- Mortgages
Mortgages
Statutes of Limitation

Bill affects the following Statutes:

Commercial Law
( 12-801 , 12-804 , 12-810 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered
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