Last Action | 04/08/22: signed by Governor (Acts Ch. 125) |
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Title | AN ACT relating to the regulation of the mortgage loan industry. |
Bill Documents |
Acts Chapter 125
Current/Final Introduced |
Bill Request Number | 2080 |
Sponsor | S. McPherson |
Summary of Original Version | Amend KRS 286.8-010 to define terms; amend KRS 286.8-032 to require licensing fees and an annual assessment; amend KRS 286.8-036 to define terms; permit employees of a licensee to engage in the mortgage lending process from an alternate location if certain conditions are met; amend KRS 286.8-295 to define "employee"; require supervision and control of employees acting as mortgage loan originators; establish requirements for licensees that allow employees to engage in the mortgage lending process from alternate work locations; amend KRS 286.8-160 to prohibit records from being maintained at an alternate work location; amend KRS 286.8-170 to permit mortgage loan companies and mortgage loan brokers to utilize third-party secure storage facilities if certain conditions are met; amend KRS 286.8-100, 286.8-140, 286.8-150, 286.8-220, 286.8-255, 286.8-285, and 355.9-408 to update references to conform; make technical amendments throughout. |
Index Headings of Original Version |
Fees - Mortgage loan companies and brokers, licensing and renewal Licensing - Mortgage loan industry, regulatory requirements Loans and Credit - Mortgage loan industry, regulatory requirements State Agencies - Department of Financial Institutions, mortgage loan industry, regulatory requirements Technical Corrections - National Multistate Licensing and Registry, update references Administrative Regulations and Proceedings - Commissioner, Department of Financial Institutions, mortgage loan industry, fees Banks and Financial Institutions - Mortgage loan industry, regulatory requirements |
Jump to Proposed Amendments | House Floor Amendment 1 |
Votes | Vote History |
02/28/22 |
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03/01/22 |
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03/02/22 |
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03/03/22 |
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03/07/22 |
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03/14/22 |
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03/22/22 |
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03/23/22 |
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03/24/22 |
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03/25/22 |
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03/29/22 |
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03/30/22 |
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04/08/22 |
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Amendment | House Floor Amendment 1 |
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Sponsor | S. McPherson |
Summary | Amend language relating to in-person activities at alternate work locations; correct numbering error; amend KRS 286.8-020 to conform. |
Index Headings |
Banks and Financial Institutions - Mortgage loan industry, regulatory requirements Loans and Credit - Mortgage loan industry, regulatory requirements Technical Corrections - HB 643 |
Last updated: 2/8/2023 2:57 PM (EST)