CHAPTER NUMBER: 588
File Code: Financial Institutions
Crossfiled with: HOUSE BILL 94
- Sponsored By:
-
Senators Bromwell, Dorman, Astle, Derr, Della, and Hafer
- Entitled:
-
Consumer Credit - Mortgage Lenders - Regulatory Reform and
Anti-Fraud Protections
Altering the licensing and regulation of mortgage lenders and brokers;
adding specified exemptions from licensure; imposing additional
licensure requirements; increasing the term of specified licenses;
allowing the expiration of specified licenses to be staggered;
specifying fees, penalties and bonding requirements, etc. for mortgage
brokers; altering specified credit laws; establishing a Task Force to
Examine the Mortgage Lending Business; requiring the Task Force to
submit a specified report by December 1, 1997; etc.
Senate Action
- 1/29
- First Reading Finance
- Hearing 2/18 at 1:00 p.m.
- 3/24
- Favorable with Amendments Report by Finance
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 3/25
- Third Reading Passed (46-0)
- 4/2
- Returned Passed
- 5/22
- Signed by the Governor Chapter 588
House Action
- 3/23
- First Reading Commerce and Government Matters
- 3/26
- Hearing 3/31 at 3:00 p.m.
- 3/28
- Hearing cancelled
- Hearing 3/31 at 1:00 p.m.
- 4/1
- Favorable Report by Commerce and Government Matters
- 3/28
- Favorable Report Adopted
- Second Reading Passed
- 3/29
- Third Reading Passed (115-12)
- Sponsored by:
- Senator Thomas L. Bromwell, District 8
- Senator John C. Astle, District 30
- Senator George W. Della, Jr., District 47
- Senator John W. Derr, District 3
- Senator Arthur Dorman, District 21
- Senator John J. Hafer, District 1
- Bill indexed under the following Subjects:
- AGENTS AND BROKERS
- BONDS -see also- COUNTY & BALTIMORE CITY BONDS; STATE BONDS.
- COMMITTEES AND COMMISSIONS -see also- POLITICAL COMMITTEES
- CONSUMER PROTECTION -see also- ADVTG.; LABELING; WARRANTIES.
- CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
- CREDIT
- DISCLOSURE
- FEES -see also- DEVELOPMENT FEES AND TAXES
- FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO; CREDIT U
- FRAUD
- LABOR,LICENSING, AND REGULATION, DEPARTMENT OF
- LICENSES -see also- ALCOHOLIC BEVERAGES LICENSES
- LOANS
- MORTGAGES
- PENALTIES
- PERJURY
- REPORTS -see also- RECORDS
- Bill affects the following Statutes:
- Commercial Law
- (
12-903 ,
12-905 ,
12-905 ,
12-1005
)
- Financial Institutions
- (
11-501 ,
11-502 ,
11-505 ,
11-506 ,
11-506.1 ,
11-507 ,
11-508 ,
11-511 ,
11-512 ,
11-523
)
- Bill Text:
- First Reading (PDF),
Third Reading (PDF), Enrolled
- Fiscal Note:
Available (PDF)
Amendments:
- Senate
- Number: 077840/1 (PDF) Offered on: MARCH 24, 1997 at: 20:52
Status: Adopted