HB 218

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1 Bill Summary
2 Bill Actions
3 Bill Calendar
4 Bill Text
5 Bill Votes
6 Bill Documents

Bill Summary

Sponsors

Chris Pringle

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Residential Mortgage Satisfaction Act, recordation of satisfaction of non-resident mortgages, Sec. 35-10-27 repealed; Secs. 35-10-26, 35-10-30, 35-10-90, 35-10-91, 35-10-92, 35-10-94, 35-10-96 am'd.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

To expand the Alabama Residential Mortgage Satisfaction Act to include non-residential mortgages and to rename that act accordingly; and to amend Sections 35-10-26 and 35-10-30 to make conforming changes.

Subjects

Mortgages

Bill Actions

Action Date	Chamber	Action
May 29, 2019	S	Pending third reading on day 27 Favorable from Judiciary
May 29, 2019	S	Read for the second time and placed on the calendar
May 28, 2019	S	Read for the first time and referred to the Senate committee on Judiciary
May 23, 2019	H	Engrossed
May 23, 2019	H	Motion to Read a Third Time and Pass adopted Roll Call 992
May 23, 2019	H	Motion to Adopt adopted Roll Call 991
May 23, 2019	H	Financial Services first Substitute Offered
May 23, 2019	H	Third Reading Passed
April 11, 2019	H	Read for the second time and placed on the calendar with 1 substitute and
March 19, 2019	H	Read for the first time and referred to the House of Representatives committee on Financial Services

Type	Date	Location	Description
Hearing	May 29, 2019	Committee Room 325 at 08:30	Senate JUDY Hearing
Hearing	April 10, 2019	Room 617 at 09:00	House FS Hearing

Type	Link
Bill Text	HB 218 - Engrossed
Bill Text	HB 218 - Introduced
Bill Amendments	House Financial Services first Substitute Offered

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