Raised S.B. No. 404
Session Year 2016
 


AN ACT CONCERNING MONEY TRANSMISSION IN THE STATE AND THE FIDUCIARY DUTIES OF MORTGAGE SERVICERS.

To (1) clarify what constitutes activity occurring within this state in the context of money transmission and debt negotiation services; and (2) require that moneys received by mortgage servicers from mortgagors for the payment of such mortgagors' taxes and insurance premiums are deposited into a separate trust account and not commingled with other funds of the servicer.

Introduced by:
Banking Committee

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   Text of Bill
 Raised Bill [pdf]

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Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 3/4/2016Public Hearing 03/08
 3/3/2016Referred to Joint Committee on Banking

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