1997 Regular Session

SENATE BILL 502

File Code: Real Property Prior Year Introduction As: SB 243/95 - JPR
Sponsored By:
Senator Astle
Entitled:
Real Property - Disbursement of Loans Secured by Deeds of Trust or Mortgages

Synopsis:

Requiring a lender to disburse loan proceeds in specified loan transactions in the form of cash, wired funds, a certified check, or a check issued by a political subdivision or on behalf of a governmental entity; and authorizing specified financial institutions to disburse loan proceeds in the form of a teller's check, a cashier's check, or a check drawn on a financial institution insured by the Federal Deposit Insurance Corporation and located in the 5th Federal Reserve District.

Legislative History

Senate Action
1/30
First Reading Judicial Proceedings
2/5
Hearing 2/18 at 1:00 p.m.
3/10
Favorable with Amendments Report by Judicial Proceedings
3/11
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/13
Third Reading Passed (47-0)
House Action
3/14
First Reading Economic Matters
3/20
Hearing 3/26 at 1:00 p.m.
4/3
Unfavorable Report by Economic Matters
Bill indexed under the following Subjects:
FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO; CREDIT U
LOANS
MORTGAGES
Bill affects the following Statute:
Real Property
( 7-109 )

Documents:

Bill Text:
First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)

Amendments:
Senate
Number: 708441/1 (PDF) Offered on: MARCH 11, 1997 at: 11:19 Status: Adopted