File Code: Commercial Law - Credit Regulation
- Sponsored By:
-
Senator Hooper
- Entitled:
-
Credit Regulation - Prepayment Charge or Penalty - Prohibition
Prohibiting a contract for a loan secured by a mortgage or deed of
trust on an interest in residential real property from requiring a
borrower to pay a prepayment charge or penalty on a partial or full
prepayment of the unpaid principal balance of the loan; prohibiting a
presently existing obligation or contract right from being impaired in
any way by the Act; requiring the Act to be construed to apply only
prospectively; etc.
Senate Action
- 2/24
- First Reading Senate Rules
- 2/27
- Re-referred Finance
- 3/3
- Hearing 3/17 at 1:00 p.m.
- 3/16
- Hearing cancelled
- 3/19
- Withdrawn
House Action
- No Action
- Bill indexed under the following Subjects:
- CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
- CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
- LOANS -see also- MORTGAGES
- MORTGAGES
- PENALTIES
- Bill affects the following Statute:
- Commercial Law
- (
12-105
)
- Bill Text:
First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
None offered