Motion to Adopt
Yes
100
Absent
4
HB218 Alabama 2019 Session
Updated Apr 26, 2021
HB218 Alabama 2019 Session
House Bill
Expired
Current Status
Regular Session 2019
Session
1
Sponsor
Summary
- Primary Sponsor
-
Chris Pringle RepresentativeRepublican - Session
- Regular Session 2019
- Title
- Residential Mortgage Satisfaction Act, recordation of satisfaction of non-resident mortgages, Sec. 35-10-27 repealed; Secs. 35-10-26, 35-10-30, 35-10-90, 35-10-91, 35-10-92, 35-10-94, 35-10-96 am'd.
- Description
Under existing law, secured creditors are only required to submit for recording the satisfaction of any residential mortgages.
Non-residential mortgages, including commercial mortgages, are excluded from the satisfaction reporting requirements of the Alabama Residential Mortgage Satisfaction Act and a satisfaction is only recorded upon a written request of a mortgagor or a creditor of the mortgagor.
This bill would expand that act requiring recordation of satisfaction to include non-residential mortgages, and would rename that act the "Alabama Mortgage Satisfaction Act." This bill would also make conforming changes in the Code.
- Subjects
- Mortgages
Bill Actions
S
Pending third reading on day 27 Favorable from Judiciary
S
Read for the second time and placed on the calendar
S
Read for the first time and referred to the Senate committee on Judiciary
H
Engrossed
H
Motion to Read a Third Time and Pass adopted Roll Call 992
H
Motion to Adopt adopted Roll Call 991
H
Financial Services first Substitute Offered
H
Third Reading Passed
H
Read for the second time and placed on the calendar with 1 substitute and
H
Read for the first time and referred to the House of Representatives committee on Financial Services
Bill Text
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Votes
Motion to Read a Third Time and Pass
Yes
102
Absent
2
Documents
Bill Text (Engrossed)
HB218 Alabama 2019 Session - Engrossed
Bill Text (Introduced)
HB218 Alabama 2019 Session - Introduced
Source: Alabama Legislature