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House Bill 643

Actions | Amendments
Last Action 04/08/22: signed by Governor (Acts Ch. 125)
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

Actions

Top | Amendments
02/28/22
  • introduced in House
  • to Committee on Committees (H)
03/01/22
  • to Banking & Insurance (H)
03/02/22
  • reported favorably, 1st reading, to Calendar
03/03/22
  • 2nd reading, to Rules
  • floor amendment (1) filed
  • posted for passage in the Regular Orders of the Day for Friday, March 04, 2022
03/07/22
  • 3rd reading, passed 91-0 with Floor Amendment (1)
  • received in Senate
  • to Committee on Committees (S)
03/14/22
  • to Banking & Insurance (S)
03/22/22
  • reported favorably, 1st reading, to Consent Calendar
03/23/22
  • 2nd reading, to Rules as a consent bill
03/24/22
  • posted for passage in the Consent Orders of the Day for Friday, March 25, 2022
03/25/22
  • passed over and retained in the Consent Orders of the Day
03/29/22
  • 3rd reading, passed 36-0
  • received in House
03/30/22
  • enrolled, signed by Speaker of the House
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/08/22
  • signed by Governor (Acts Ch. 125)

Proposed Amendments

Top | Actions
Amendment House Floor Amendment 1
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)