HBIR: Pringle motion to Adopt Roll Call 529
Yes
96
Absent
7
HB457 Alabama 2021 Session
Updated May 18, 2021
HB457 Alabama 2021 Session
House Bill
In Second Chamber
Current Status
Regular Session 2021
Session
1
Sponsor
Summary
- Primary Sponsor
-
Chris Pringle RepresentativeRepublican - Session
- Regular Session 2021
- 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- Residential Mortgage Satisfaction Act, recordation of satisfaction of non-resident mortgages, Sec. 35-10-27 repealed; Secs. 35-10-26, 35-10-30, 35-10-90, 35-10-91, 35-10-92, 35-10-94, 35-10-96 am'd.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. Other mortgages, including mortgages securing commercial agricultural properties, 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 the Alabama Residential Mortgage Satisfaction Act to require recordation of satisfaction to include mortgages securing commercial agricultural properties and would rename that act the "Alabama Residential and Agricultural Mortgage Satisfaction Act." This bill would also make conforming changes.
- Subjects
- Mortgages
Bill Actions
S
Further Consideration
S
Whatley motion to Carry Over to the Call of the Chair adopted Voice Vote
S
Third Reading Carried Over to Call of the Chair
S
Read for the first time and referred to the Senate committee on Fiscal Responsibility and Economic Development
H
Motion to Read a Third Time and Pass adopted Roll Call 530
H
Third Reading Passed
H
Read for the second time and placed on the calendar
H
Read for the first time and referred to the House of Representatives committee on Financial Services
Bill Text
Votes
Motion to Read a Third Time and Pass Roll Call 530
Yes
97
Absent
6
Documents
Source: Alabama Legislature