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House Bill 553

Actions | Amendments
Last Action returned to Banking & Insurance (S)
Title AN ACT relating to mortgage loans.
Bill Documents Bill
Bill Request Number 1964
Sponsor T. Thompson
Summary of Original Version Amend KRS 286.3-060 toclarify that a bank director or officer may be a man or woman.
Index Headings of Original Version Banks and Financial Institutions - Officers or directors, clarify that may be male or female
Proposed Amendments House Committee Substitute 1
House Committee Amendment 1
Votes Vote History

Actions

Top | Amendments
03/04/14
  • introduced in House
03/05/14
  • to Banking & Insurance (H)
03/06/14
  • posted in committee
03/12/14
  • reported favorably, 1st reading, to Consent Calendar with Committee Substitute, committee amendment (1-title)
03/13/14
  • 2nd reading, to Rules
  • taken from Rules
  • placed in the Consent Orders of the Day for Monday, March 17, 2014
03/17/14
  • 3rd reading, passed 94-0 with Committee Substitute, committee amendment (1-title)
03/18/14
  • received in Senate
03/19/14
  • to Banking & Insurance (S)
03/21/14
  • taken from Banking & Insurance (S)
  • 1st reading
  • returned to Banking & Insurance (S)
03/24/14
  • taken from Banking & Insurance (S)
  • 2nd reading
  • returned to Banking & Insurance (S)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Summary Delete original provision and add and amend provisions of KRS 286.8 relating to registration and licensing of persons engaged in mortgage lending to delete the requirement for registration of mortgage loan processors who are directed and supervised by a mortgage loan originator, but retain registration requirements for mortgage loan processors who engage in the mortgage lending process as an independent contractor and require registration of underwriters who engage in the mortgage lending process as an independent contractor; amend KRS 286.8-034 to delete the requirement that the commissioner provide a duplicate copy of a license to a licensee for a fee of $10; create a new section of KRS 286.8 to prohibit a mortgage loan processor or underwriter to indicate that he or she can or will perform any activities of a mortgage loan originator or underwriter if he or she is not registered or authorized to act as a mortgage loan originator; amend KRS 286.8-250 to delete the requirement that a mortgage loan broker prominently display the license certificate at his or her physical location; amend KRS 286.8-255 to delete the requirement that the commissioner provide a duplicate copy of a registration to a registrant for a fee of $10; amend KRS 286.8-260 to reduce from 4 hours to 1 hour per year the required number of hours of continuing education for registrants on the requirements of KRS 286.8 and of KRS 360.100 relating to the state's legal interest rate; and amend KRS 286.8-255 to require mortgage loan originators to grant access to any records of which the originator has actual or constructive possession or control, rather than possession or control, to the commissioner or the commissioner's examiner.
Index Headings Banks and Financial Institutions - Officers or directors, clarify that may be male or female

Amendment House Committee Amendment 1
Sponsor T. Thompson
Summary Make title amendment.
Index Headings Banks and Financial Institutions - Officers or directors, clarify that may be male or female

Last updated: 8/27/2019 6:52 PM (EDT)