MORTGAGE ACT-RELEASE-PENALTY
Summary
Amends the Mortgage Act. Raises the penalty for failure to release property that was secured by a mortgage within one month of the payment of the debt to $500 (from $200). Provides for a $2,000 penalty against a mortgagee or trustee for the failure to release property that was secured by a mortgage within one month of the payment of the debt and for which the mortgagee or trustee charged or collected a fee for recording the release. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2003
Committee Review
Floor Vote
Governor
Introduced Feb 27, 2003
Last action Jan 11, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
0
Committee
3
Jan 11, 2005
House · Failed
Session Sine Die
Mar 13, 2003
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Feb 28, 2003
House · Referred to committee
Assigned to Financial Institutions Committee
Feb 27, 2003
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Daniel J. Burke
DDemocratic
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