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Glossary of Legislative Terms

SB 1408: Disposition of Insurance Proceeds

GENERAL BILL by Montford

Disposition of Insurance Proceeds; Adding requirements for mortgagees and assignees holding certain insurance proceeds pending completion of all or part of damage repairs; specifying requirements for the disposition of certain insurance proceeds received by financial institutions and their subsidiaries relating to mortgage loans they hold; providing an exception from a requirement for a financial institution or subsidiary to endorse certain negotiable instruments, etc.

Effective Date: 7/1/2020
Last Action: 3/14/2020 Senate - Died in Banking and Insurance
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Judiciary (JU)
  3. Rules (RC)


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Bill History

Date Chamber Action
1/6/2020 Senate • Filed
1/13/2020 Senate • Referred to Banking and Insurance; Judiciary; Rules -SJ 104
1/14/2020 Senate • Introduced -SJ 104
3/14/2020 Senate • Indefinitely postponed and withdrawn from consideration
• Died in Banking and Insurance