Substitute for Raised H.B. No. 6995
Session Year 2019
AN ACT CONCERNING SHARED APPRECIATION AGREEMENTS AND CERTAIN START-UP COMPANIES ENGAGED IN THE ACTIVITY OF MONEY TRANSMISSION.
To (1) make shared appreciation agreements subject to the same licensing and regulatory compliance requirements as residential mortgage loans, and (2) permit a start-up company engaged in the activity of a money transmission to provide a statement of condition as part of licensure application in lieu of certain financial statements.