Skip to main content
Senate Bill 0328


Senate Bill 0328

ARCHIVE (2010)

Latest Information

 

DIGEST OF SB328 (Updated February 25, 2010 5:58 pm - DI 84)


Various financial institutions matters. Makes various changes to the laws concerning: (1) financial institutions; (2) debt management companies; (3) pawnbrokers; (4) money transmitters; (5) check cashers; (6) persons licensed under the Uniform Consumer Credit Code; (7) first lien mortgage lenders; and (8) rental purchase agreements. Makes various changes to the laws concerning licensing residential mortgage loan creditors and originators to comply with requirements of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008. Repeals provisions being superseded by this bill. Repeals provisions under the Uniform Consumer Credit Code concerning the following: (1) A definition index. (2) Revocations of certain licenses. Repeals a provision requiring the display of a license by a debt management company. Repeals a provision concerning reverse mortgage loans made by savings associations and replaces the provision with requirements for reverse mortgage loans made by creditors in first lien mortgage transactions.
    Current Status:
     Law Enacted
    >Latest Printing > (PDF)