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
Last Action: 3/14/2020 Senate - Died in Banking and Insurance
Bill Text: Web Page | PDF
Senate Committee References:
- Banking and Insurance (BI)
- Judiciary (JU)
- Rules (RC)
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• Indefinitely postponed and withdrawn from consideration • Died in Banking and Insurance |
