File Code: Commercial Law - Credit Regulation
Prior Year Introduction As: SB 216/95 - FIN
- Sponsored By:
-
Delegates Bobo, Pitkin, Goldwater, Arnick, Patterson, Crumlin,
Pendergrass, and Turner
- Entitled:
-
Credit Regulation - Lenders - Interest on Escrow Accounts
Requiring lenders doing business in Maryland who make loans secured by
first mortgages or first deeds of trust on any interest in residential
real property, and who create or are the assignees of escrow accounts
in connection with such loans, to pay interest to borrowers on the
funds in the escrow accounts; requiring such lenders to annually
provide borrowers with a statement of the escrow balance; and
providing for an exception.
House Action
- 2/1
- First Reading Commerce and Government Matters
- 2/7
- Hearing 2/27 at 1:15 p.m.
- 3/15
- Unfavorable Report by Commerce and Government Matters
Senate Action
- No Action
- Sponsored by:
- Delegate Elizabeth Bobo, District 12B
- Delegate John S. Arnick, District 7
- Delegate Michael A. Crumlin, District 25
- Delegate Marilyn Goldwater, District 16
- Delegate Obie Patterson, District 26
- Delegate Shane Pendergrass, District 13A
- Delegate Joan B. Pitkin, District 23
- Delegate Frank S. Turner, District 13A
- Bill indexed under the following Subjects:
- ESCROW ACCOUNTS
- 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
