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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

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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

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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)