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Legislation


2004 Regular Session

HOUSE BILL 1025

File Code: Commercial Law - Credit Regulation
Sponsored By:
Delegates Wood, Harrison, Kirk, Krebs, Love, Miller, Minnick, Moe, Taylor, and Vaughn
Entitled:
Commercial Law - Mortgage Brokers - Compensation and Finder's Fees

Synopsis:

Providing that a mortgage broker is not considered a lender for purposes of the prohibition on receiving a finder's fee under specified circumstances; defining "mortgage broker" and "table funded transaction"; stating the intent of the General Assembly; etc.

History by Legislative Date

House Action
2/12
First Reading Economic Matters
2/25
Hearing 3/9 at 1:00 p.m.
4/6
Favorable with Amendments Report by Economic Matters
4/3
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/4
Special Order 4/8 (Delegate Zirkin) Adopted
Third Reading Passed (137-0)
Senate Action
4/7
First Reading Senate Rules
4/10
Re-referred Finance
4/12
Favorable with Amendments Report by Finance
4/9
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
Motion two readings same day Const/Rule 24 (Senator Astle) Adopted
Third Reading Passed with Amendments (47-0)
Sponsored by:
Delegate John F. Wood, Jr., District 29A
Delegate Hattie N. Harrison, District 45
Delegate Ruth M. Kirk, District 44
Delegate Susan W. Krebs, District 9B
Delegate Mary Ann E. Love, District 32
Delegate Warren E. Miller, District 9A
Delegate Joseph J. Minnick, District 6
Delegate Brian R. Moe, District 21
Delegate Herman L. Taylor, Jr., District 14
Delegate Michael L. Vaughn, District 24
Bill indexed under the following Subjects:
AGENTS AND BROKERS
FEES -see also- DEVELOPMENT FEES AND TAXES
MORTGAGES
SETTLEMENT PROCEDURES
Bill affects the following Statutes:
Commercial Law
( 12-801 , 12-804 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
House
Number: 013290/01 (PDF)     Offered on: April 6, 2004   at: 10:22 a.m.     Status: Adopted
Senate
Number: 027077/01 (PDF)     Offered on: April 12, 2004   at: 4:53 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
April 4, 2004: Third Reading Passed (137-0)
Senate
April 9, 2004: Third Reading Passed (47-0)
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