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Legislation


2004 Regular Session

HOUSE BILL 1096

File Code: Financial Institutions Crossfiled with: SENATE BILL 643
Sponsored By:
Delegates Love, Harrison, Kirk, Krebs, Krysiak, and Miller
Entitled:
Mortgage Lenders - Sole Proprietors - Qualifications for Licensure

Synopsis:

Authorizing the Commissioner of Financial Regulation to issue a mortgage lender license to an applicant who is a sole proprietor and who does not meet the 3-year experience requirement under specified circumstances; specifying the conditions under which a sole proprietor may be licensed under the Act; prohibiting a sole proprietor who is licensed under the Act from aiding or assisting a borrower to obtain a loan from a financial institution other than the institution identified in the license application; etc.

History by Legislative Date

House Action
2/13
First Reading Economic Matters
2/25
Hearing 3/9 at 1:00 p.m.
4/10
Favorable with Amendments Report by Economic Matters
4/5
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/6
Third Reading Passed (121-14)
4/10
Returned Passed
5/26
Governor vetoed - Cross-filed bill was signed
Senate Action
4/8
First Reading Senate Rules
4/9
Re-referred Finance
4/12
Favorable Report by Finance
4/10
Favorable Report Adopted
Second Reading Passed
Motion two readings same day Const/Rule 24 (Senator Astle) Adopted
Third Reading Passed (43-4)
Sponsored by:
Delegate Mary Ann E. Love, District 32
Delegate Hattie N. Harrison, District 45
Delegate Ruth M. Kirk, District 44
Delegate Susan W. Krebs, District 9B
Delegate Carolyn J. Krysiak, District 46
Delegate Warren E. Miller, District 9A
Bill indexed under the following Subjects:
AGENTS AND BROKERS
CHECKS
FEES -see also- DEVELOPMENT FEES AND TAXES
FINANCIAL INSTITUTIONS -see also- BANKS; CREDIT UNIONS; etc.
FINANCIAL REGULATION, DIVISION OF
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
LICENSES -see also- ALCOHOLIC BEV LIC; DRIVERS' LICENSES
MORTGAGES
Bill affects the following Statute:
Financial Institutions
( 11-506 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
House
Number: 653493/01 (PDF)     Offered on: April 10, 2004   at: 11:38 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
April 6, 2004: Third Reading Passed (121-14)
Senate
April 10, 2004: Third Reading Passed (43-4)
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