CHAPTER NUMBER: 615
File Code: Commercial Law - Credit Regulation
- Sponsored By:
-
Delegates Kullen, Cryor, Donoghue, Kohl, Love, Stull,
Trueschler, and F. Turner
- Entitled:
-
Credit Regulation - Loans Secured by Real Property - Insurance
Coverage Requirements
Clarifying that specified lenders and credit grantors may not require
a borrower, as a condition to receiving or maintaining specified
loans, to provide or purchase insurance coverage in an amount
exceeding the replacement cost of the improvements on real property;
clarifying the manner in which specified lenders and credit grantors
may determine the replacement cost of improvements on real property
that secures specified loans made by the lenders and credit grantors;
etc.
House Action
- 2/10
- First Reading Economic Matters
- Hearing 3/1 at 1:00 p.m.
- 3/22
- Favorable with Amendments Report by Economic Matters
- 3/20
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 3/21
- Third Reading Passed (138-1)
- 4/7
- Returned Passed
Senate Action
- 3/25
- First Reading Finance
- 3/28
- Hearing 4/5 at 1:00 p.m.
- 4/10
- Favorable Report by Finance
- 4/6
- Favorable Report Adopted
- Second Reading Passed
- Motion two readings same day Const/Rule 24 (Senator Pipkin) Adopted
- Third Reading Passed (46-0)
Action after passage in House and Senate
- 5/26
- Became Law without Governor's signature per Maryland Constitution - Chapter 615
Sponsored by:
- Delegate Sue Kullen, District 27B
- Delegate Jean B. Cryor, District 15
- Delegate John P. Donoghue, District 2C
- Delegate Sheryl Davis Kohl, District 34A
- Delegate Mary Ann E. Love, District 32
- Delegate Paul S. Stull, District 4A
- Delegate John G. Trueschler, District 42
- Delegate Frank S. Turner, District 13
Bill indexed under the following Subjects:
- CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
- CREDIT
- INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
- LOANS -see also- MORTGAGES
- MORTGAGES
- REAL PROPERTY
Bill affects the following Statutes:
- Commercial Law
- (
12-124 ,
12-410 ,
12-909 ,
12-1007
)
- Bill Text (Displayed in PDF Format):
First Reading,
Third Reading, Enrolled
- Fiscal Note (Displayed in PDF Format):
Available
- Amendments (Displayed in WordPerfect 8 Format):
House
- Number: 063399/01 (PDF) Offered on: March 22, 2006 at:
10:36 a.m. Status: Adopted
- Roll Call Votes (Legislative dates are shown):
House
- March 21, 2006: Third Reading Passed (138-1)
Senate
- April 6, 2006: Third Reading Passed (46-0)
