l9n/ Mississippi

2008 Regular Session

Senate Bill 2605

MS Mortgage Consumer Protection Law; clarify provisions/authorize Commissioner of Banking to issue subpoenas.

Became law as Chapter 434, Laws of 2008, signed April 7, 2008, 66 days after it was filed.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 81-18-3, MISSISSIPPI CODE OF 1972, TO CLARIFY THE LICENSED LOCATION AT WHICH A LOAN ORIGINATOR MAY WORK; TO AMEND SECTION 81-18-5, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT PERSONS WHO ENTER INTO NO MORE THAN 12 MISSISSIPPI RESIDENTIAL MORTGAGE LOAN TRANSACTIONS SHALL BE EXEMPT FROM THE MISSISSIPPI MORTGAGE CONSUMER PROTECTION LAW; TO AMEND SECTION 81-18-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT AN APPLICATION FOR LICENSE UNDER THE CHAPTER SHALL BE MADE THROUGH THE MULTISTATE LICENSING SYSTEM; TO AMEND SECTION 81-18-15, MISSISSIPPI CODE OF 1972, TO REQUIRE APPLICANTS TO PAY THE LICENSE FEE THROUGH THE MULTISTATE LICENSING SYSTEM; TO AMEND SECTION 81-18-17, MISSISSIPPI CODE OF 1972, TO REQUIRE AN APPLICATION FOR ANY BRANCH OFFICE TO BE MADE THROUGH THE MULTISTATE LICENSING SYSTEM; TO AMEND SECTION 81-18-19, MISSISSIPPI CODE OF 1972, TO PROHIBIT ANY PERSON FROM ACQUIRING 10% INTEREST IN A LICENSEE UNLESS AN APPLICATION FOR LICENSE IS FILED; TO AMEND SECTION 81-18-23, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT ANNUAL WRITTEN REPORTS SHALL BE FILED BY LICENSEES BEFORE MARCH 31 OF EACH YEAR; TO AMEND SECTION 81-18-61, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY PERSON ENGAGED IN ACTIVITY THAT REQUIRES LICENSURE OR REGISTRATION UNDER THE CHAPTER SHALL UTILIZE THE MULTISTATE LICENSING SYSTEM FOR CERTAIN FILINGS AND SHALL PAY ALL APPLICABLE CHARGES TO UTILIZE THE MULTISTATE LICENSING SYSTEM; TO CREATE A NEW SECTION TO AUTHORIZE THE COMMISSIONER OF BANKING AND CONSUMER FINANCE TO ISSUE SUBPOENAS AND ADMINISTER OATHS FOR THE PURPOSE OF CONDUCTING INVESTIGATIONS, EXAMINATIONS OR OTHER PROCEEDINGS UNDER THE CHAPTER; AND FOR RELATED PURPOSES.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

Its course

February 1 to April 7, 2008, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action16 actions on 13 days

In the SenateFeb 1 to Feb 2524 days

Business and Financial InstitutionsFeb 1 to Feb 1413 days

In the House of RepresentativesFeb 25 to Mar 1721 days

Banking and Financial ServicesFeb 28 to Mar 1011 days

Judiciary AMar 10 to Mar 111 day

Banking and Financial ServicesMar 11 to Mar 110 days

Back in the SenateMar 17 to Mar 2811 days

With the GovernorMar 28 to Apr 710 days

Amendments

Each amendment offered, and what became of it.

  • House of Representatives committee amendmentAdopted

    Adopted Mar 17

Text

Each version as the Legislature printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the Senate Feb 1 – Feb 25

  1. Feb 1Referred to the Senate committee on Business and Financial Institutions
  2. Feb 14Reported from committee in the Senate: title sufficient, do pass as a committee substitute
  3. Feb 25Committee substitute adopted in the Senate
  4. Passed the Senate

In the House of Representatives Feb 27 – Mar 17

  1. Feb 27Sent to the House
  2. Feb 28Referred to the House committees on Banking and Financial Services and on Judiciary A
  3. Mar 10Reported from BB to JA in the House: title sufficient, do pass
  4. Mar 11Reported as amended from JA to BB in the House: title sufficient, do pass
  5. Reported from committee in the House: title sufficient, do pass as amended
  6. Mar 17Amended in the House
  7. Passed the House as amended

Back in the Senate Mar 18 – Mar 28

  1. Mar 18Returned to the Senate to concur in the House's amendments
  2. Mar 26Concurred in the Senate in the House's amendments
  3. Mar 28Enrolled bill signed in the Senate

To the Governor Mar 31 – Apr 7

  1. Mar 31Enrolled bill signed in the House
  2. Apr 7Approved by the Governor
All 16 actions, as published
  1. Feb 1Referred To Business and Financial InstitutionsSenate
  2. Feb 14Title Suff Do Pass Comm SubSenate
  3. Feb 25Committee Substitute AdoptedSenate
  4. Feb 25PassedSenate
  5. Feb 27Transmitted To HouseSenate
  6. Feb 28Referred To Banking and Financial Services;Judiciary AHouse of Representatives
  7. Mar 10DR - TSDP: BB To JAHouse of Representatives
  8. Mar 11DR - TSDPAA: JA To BBHouse of Representatives
  9. Mar 11Title Suff Do Pass As AmendedHouse of Representatives
  10. Mar 17AmendedHouse of Representatives
  11. Mar 17Passed As AmendedHouse of Representatives
  12. Mar 18Returned For ConcurrenceHouse of Representatives
  13. Mar 26Concurred in Amend From HouseSenate
  14. Mar 28Enrolled Bill SignedSenate
  15. Mar 31Enrolled Bill SignedHouse of Representatives
  16. Apr 7Approved by GovernorGovernor