House Bill 206

Actions | Amendments
Last Action signed by Governor (Acts, ch. 31)
Title AN ACT providing that a loan modification resulting in a lower interest rate is secured by the original mortgage.
Bill Documents Bill
Bill Request Number 32
Sponsors J. Greer, D. Horlander
Summary of Original Version Amend KRS 382.520 to provide that a real estate mortgage secures payment for modifications of the loan resulting in a lower interest rate.
Index Headings of Original Version Loans and Credit - Mortgage, loan modification resulting in a lower interest rate, secured
Property - Mortgage, loan modification resulting in a lower interest rate, secured
Real Estate - Mortgage, loan modification resulting in a lower interest rate, secured
Banks and Financial Institutions - Mortgage, loan modification resulting in a lower interest rate, secured
Proposed Amendments House Committee Substitute 1
House Floor Amendment 1
Votes Vote History

Actions

Top | Amendments
01/14/14
  • introduced in House
01/15/14
  • to Banking & Insurance (H)
01/17/14
  • posted in committee
01/22/14
  • reported favorably, 1st reading, to Calendar with Committee Substitute
  • floor amendment (1) filed to Committee Substitute
01/23/14
  • 2nd reading, to Rules
  • posted for passage in the Regular Orders of the Day for Friday, January 24, 2014
01/28/14
  • 3rd reading, passed 97-0 with Committee Substitute, floor amendment (1)
01/29/14
  • received in Senate
02/04/14
  • to Banking & Insurance (S)
03/18/14
  • reported favorably, 1st reading, to Consent Calendar
03/19/14
  • 2nd reading, to Rules
03/21/14
  • posted for passage in the Consent Orders of the Day for Monday, March 24, 2014
03/24/14
  • 3rd reading, passed 38-0
  • received in House
03/25/14
  • enrolled, signed by Speaker of the House
03/26/14
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/07/14
  • signed by Governor (Acts, ch. 31)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Summary Amend Section 1(1) to delete the term "modifications" and to substitute "renewals and extensions" which result in a reduction in the interest rate for purposes of continuation of the original mortgage as security on the renewed or extended loan.
Index Headings Loans and Credit - Mortgage, loan modification resulting in a lower interest rate, secured
Property - Mortgage, loan modification resulting in a lower interest rate, secured
Real Estate - Mortgage, loan modification resulting in a lower interest rate, secured
Banks and Financial Institutions - Mortgage, loan modification resulting in a lower interest rate, secured

Amendment House Floor Amendment 1
Sponsor J. Greer
Summary Amend Section1(1) to authorize a mortgage to secure payment of interest rate reductions, in addition to securing payment of renewals and extensions, and delete the new provision that included renewals and extensions of the loan resulting in a lower interest rate.
Index Headings Loans and Credit - Mortgage, loan modification resulting in a lower interest rate, secured
Property - Mortgage, loan modification resulting in a lower interest rate, secured
Real Estate - Mortgage, loan modification resulting in a lower interest rate, secured
Banks and Financial Institutions - Mortgage, loan modification resulting in a lower interest rate, secured

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