File Code: Commercial Law - Generally
Prior Year Introduction As: SB 376/95 - FIN
- Sponsored By:
-
Senators Ruben and Frosh
- Entitled:
-
Residential Mortgages - Interest on Escrow Accounts
Repealing the exemption of out-of-state lenders which lend money
secured by a first mortgage or first deed of trust on any interest in
residential real property and which create or are the assignee of an
escrow account in connection with the loan from paying interest on
funds in escrow accounts to borrowers; repealing a definition; and
applying the Act to loans that are in existence on or after the
effective date of the Act.
Senate Action
- 1/19
- First Reading Finance
- Hearing 1/31 at 3:00 p.m.
- 2/23
- Unfavorable Report by Finance
House Action
- No Action
- Sponsored by:
- Senator Ida G. Ruben, District 20
- Senator Brian E. Frosh, District 16
- Bill indexed under the following Subjects:
- ESCROW ACCOUNTS
- EXEMPTIONS
- INTEREST
- LOANS
- MORTGAGES
- Bill affects the following Statutes:
- Commercial Law
- (
12-101 ,
12-109
)
- Bill Text:
- First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
Amendments:
None available
