l9n/ Mississippi

2011 Regular Session

House Bill 581

Mortgages and other secured lenders; increase penalty for failure to cancel record of debt after demand of debtor.

Did not become law. It stopped in the House of Representatives's Banking and Financial Services Committee on February 1, 2011. The 2011 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 89-5-21, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF THE PENALTY ON A MORTGAGEE WHO, AFTER HAVING RECEIVED FULL PAYMENT OF THE MONEY DUE BY THE MORTGAGE, DOES NOT CANCEL THE MORTGAGE WITHIN ONE MONTH AFTER WRITTEN REQUEST TO DO SO BY THE DEBTOR; TO AMEND SECTION 75-9-625, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF THE PENALTY ON A SECURED PARTY UNDER THE UNIFORM COMMERCIAL CODE WHO, AFTER THERE IS NO OBLIGATION SECURED BY THE COLLATERAL COVERED BY THE FINANCING STATEMENT, DOES NOT CAUSE A TERMINATION STATEMENT FOR THE FINANCING STATEMENT TO BE FILED WITHIN TWENTY DAYS AFTER DEMAND TO DO SO BY THE DEBTOR; TO BRING FORWARD SECTION 75-9-513, MISSISSIPPI CODE OF 1972, WHICH SETS OUT THE REQUIREMENTS AND PROCEDURES FOR THE FILING OF A TERMINATION STATEMENT, FOR THE PURPOSES OF AMENDMENT; 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 House of Representatives

5 co-sponsors

Greg Ward, Donnie Bell, Philip Gunn, Harvey Moss, Jerry R. Turner

Its course

January 11 to February 1, 2011, 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 action2 actions on 2 days

In the House of RepresentativesJan 11 to Feb 1 · stopped21 days

Banking and Financial ServicesJan 11 to Feb 1 · stopped21 days

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 House of Representatives Jan 11 – Feb 1

  1. Jan 11Referred to the House committee on Banking and Financial Services
  2. Feb 1Died in committee in the House
All 2 actions, as published
  1. Jan 11Referred To Banking and Financial ServicesHouse of Representatives
  2. Feb 1Died In CommitteeHouse of Representatives