NY State Senate Bill 2019-S8454A

Archive: Last Bill Status - In Senate Committee Banks Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 20, 2020	print number 8454a
Jul 20, 2020	amend and recommit to banks
Jun 03, 2020	referred to banks

Bill Amendments

Original

A (Active)

co-Sponsors

2019-S8454 - Details

See Assembly Version of this Bill:: A10876
Current Committee:: Senate Banks
Law Section:: Banking Law
Laws Affected:: Add §9-y, Bank L
Versions Introduced in 2021-2022 Legislative Session:: S2195, A6079

2019-S8454 - Summary

Relates to authorizing commercial mortgage forbearance during the COVID-19 pandemic; requires New York regulated institutions to make applications for forbearance available to qualified commercial mortgagors and to grant such forbearance for a period of ninety days, subject to the safety and soundness requirements of the regulated institution.

2019-S8454 - Sponsor Memo

                                
 
BILL NUMBER: S8454

SPONSOR: KAVANAGH
 
TITLE OF BILL:

An act to amend the banking law, in relation to authorizing commercial
mortgage forbearance during the COVID-19 pandemic

 
PURPOSE OF BILL:

This bill would add a new section 9-x to the banking law to require New
York regulated institutions to grant 90 days of forbearance to qualified
commercial mortgagors who can demonstrate financial hardship during the
NY on PAUSE order caused by the COVID-19 pandemic.

This bill would allow any mortgagor granted forbearance to defer their
payments to a non-interest bearing balloon payment due twelve months
after the end of the forbearance period. The bill would also give
commercial tenants in buildings receiving forbearance the ability to
receive a rental deferment proportional to the tenant's share of the
rental income generated by the mortgaged property.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 of the bill adds a new section 9-x to the banking law.

Subsection 1 of section 9-x of the banking law sets definitions.

Subsection 2 of section 9-x of the banking law would require New York
regulated institutions to grant 90 days of forbearance to any qualified
commercial mortgagor who can demonstrate financial hardship during the
NY on PAUSE order for the county in which the encumbered property is
located. Mortgagors must submit an application for forbearance which
must be made widely available by the lending institution. Such forbear-
ance is available to those already in arrears or on a trial period plan,
and may be backdated to March 7, 2020.

Subsection 3 of section 9-x of the banking law would give mortgagors the
ability to defer the accumulated arrears as an interest-free balloon
payment due twelve months after the forbearance period ends.  This
section also provides commercial tenants with a rental deferment propor-
tional to their share of the total rental income generated by the mort-
gaged property.

Subsection 4 of section 9-x of the banking law requires adherence to
this section as a condition precedent in all foreclosure proceedings,
and allows defendants in such proceedings to raise any violations as a
defense when the action is based on missed payments otherwise subject to
this section.

Subsection 5 of section 9-x of the banking law specifies that this
section will not be applicable to mortgages made, insured, or securi-
tized by any agency or instrumentality of the United States, any Govern-
ment Sponsored Enterprise, or a Federal Home Loan Bank, or the rights
and obligations of any lender, issuer, servicer or trustee of such obli-
gations.

Section 2 of the bill sets forth the effective date.

 
JUSTIFICATION:

As the COVID-l9 pandemic continues to wreak havoc on New York, and with
State and local governments mandating the shuttering of all but essen-
tial businesses in the interest of protecting public health, New York
has seen a rapid and unprecedented economic decline. Many New York busi-
nesses will not be able to keep up with mortgage payments during this
time. With the Governor's issuance of Executive Order 202.9, some resi-
dential mortgagors have been granted forbearance, but this order has
left commercial mortgagors scrambling. A moratorium on foreclosure
proceedings is simply not enough to quell the fears of this economic
crisis among our small businesses. Without this legislation, businesses
would be at risk of mass foreclosures once the moratorium is lifted.

Commercial mortgagors who qualify for this program will be able to defer
their missed payments into a non-interest bearing balloon payment due
one year after the forbearance period ends. This offers a chance for our
businesses to survive this crisis and get back on their feet.

Commercial tenants will also be able to receive a rental deferment
proportional to their share of the total rent generated by the property
for which mortgage forbearance is received. Therefore, if a commercial
tenant makes up,10% of the building's total rent roll, they can defer
10% of the total forbearance received from their rental obligation for
12 months after the forbearance period ends.

By passing this legislation, we can provide essential security to small
businesses across New York, ensuring that no one will be subject to
foreclosure, or lose their place of business due the COVID-19 pandemic.

 
LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-S8454 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8454
 
                             I N  S E N A T E
 
                               June 3, 2020
                                ___________
 
 Introduced  by Sens. KAVANAGH, KAMINSKY -- read twice and ordered print-
   ed, and when printed to be committed to the Committee on Banks
 
 AN ACT to amend the banking law, in relation to  authorizing  commercial
   mortgage forbearance during the COVID-19 pandemic
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The banking law is amended by adding a new section  9-x  to
 read as follows:
   § 9-X. MORTGAGE FORBEARANCE. 1. AS USED IN THIS SECTION, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A)  "COVERED  PERIOD"  MEANS MARCH SEVENTH, TWO THOUSAND TWENTY UNTIL
 THE DATE ON WHICH NONE  OF  THE  PROVISIONS  THAT  CLOSED  OR  OTHERWISE
 RESTRICTED  PUBLIC  OR  PRIVATE  BUSINESSES OR PLACES OF PUBLIC ACCOMMO-
 DATION, OR REQUIRED POSTPONEMENT OR CANCELLATION  OF  ALL  NON-ESSENTIAL
 GATHERINGS  OF INDIVIDUALS OF ANY SIZE FOR ANY REASON IN EXECUTIVE ORDER
 NUMBERS 202.3, 202.4, 202.5, 202.6, 202.7, 202.8, 202.10, 202.11, 202.13
 OR 202.14 OF TWO THOUSAND TWENTY, AS EXTENDED BY EXECUTIVE ORDER NUMBERS
 202.28 AND 202.31 AND AS FURTHER EXTENDED BY ANY FUTURE EXECUTIVE ORDER,
 ISSUED IN RESPONSE TO THE COVID-19 PANDEMIC CONTINUE  TO  APPLY  IN  THE
 COUNTY  IN  WHICH THE PROPERTY ENCUMBERED BY THE MORTGAGE IN QUESTION IS
 LOCATED; AND
   (B) "REGULATED INSTITUTION"  MEANS  ANY  NEW  YORK  REGULATED  BANKING
 ORGANIZATION  AS  DEFINED  UNDER THIS CHAPTER AND ANY NEW YORK REGULATED
 MORTGAGE SERVICER ENTITY SUBJECT TO THE AUTHORITY OF THE DEPARTMENT.
   2. NOTWITHSTANDING ANY OTHER PROVISION  OF  LAW,  NEW  YORK  REGULATED
 INSTITUTIONS SHALL:
   (A)  MAKE APPLICATIONS FOR FORBEARANCE OF ANY PAYMENT DUE ON A COMMER-
 CIAL MORTGAGE OF A PROPERTY LOCATED IN NEW YORK WIDELY AVAILABLE TO  ANY
 QUALIFIED  COMMERCIAL  MORTGAGOR  INCLUDING  THOSE  WHO  ARE  ALREADY IN
 ARREARS OR ON A TRIAL PERIOD PLAN OR WHO HAVE  APPLIED  FOR  LOSS  MITI-
 GATION AND WHO DEMONSTRATE FINANCIAL HARDSHIP DURING THE COVERED PERIOD;
 AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16436-02-0

 S. 8454                             2
 
   (B)  GRANT  SUCH  FORBEARANCE  FOR A PERIOD OF NINETY DAYS TO ANY SUCH
 QUALIFIED COMMERCIAL MORTGAGOR, SUBJECT  TO  THE  SAFETY  AND  SOUNDNESS
 REQUIREMENTS OF THE REGULATED INSTITUTION.
   (C)  SUCH  FORBEARANCE MAY BE BACKDATED TO MARCH SEVENTH, TWO THOUSAND
 TWENTY.
   3. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ANY  MORTGAGE  FORBEAR-
 ANCE GRANTED BY A REGULATED INSTITUTION PURSUANT TO THIS SECTION, OR ANY
 OTHER  LAW, RULE OR REGULATION, TO THE QUALIFIED COMMERCIAL MORTGAGOR AS
 A RESULT OF FINANCIAL  HARDSHIP  DURING  THE  COVERED  PERIOD  SHALL  BE
 SUBJECT TO THE FOLLOWING PROVISIONS:
   (A)  THE  REGULATED INSTITUTION SHALL DEFER ARREARS ACCUMULATED DURING
 THE FORBEARANCE PERIOD AS A NON-INTEREST BEARING BALLOON PAYMENT PAYABLE
 TWELVE MONTHS AFTER THE END OF THE FORBEARANCE PERIOD  AND  SHALL  WAIVE
 ANY LATE FEES ACCUMULATED AS A RESULT OF THE FORBEARANCE; AND
   (B)  THE  TOTAL VALUE OF THE DEFERRED MORTGAGE PAYMENT SHALL BE APPOR-
 TIONED EACH MONTH TO EACH TENANT ACCORDING  TO  THE  PERCENTAGE  OF  THE
 TOTAL RENTS DUE THAT THEIR RENTAL OBLIGATION REPRESENTS ON THE MORTGAGED
 PROPERTY  IN  RECEIPT  OF  THE FORBEARANCE. EACH COMMERCIAL TENANT SHALL
 HAVE THEIR PRO RATA SHARE OF THE FORBORNE MORTGAGE PAYMENT  BE  DEFERRED
 EACH  MONTH  FOR  THE  DURATION OF THE FORBEARANCE PERIOD. SUCH DEFERRED
 RENT SHALL BE DUE WITHIN TWELVE MONTHS AFTER THE END OF THE  FORBEARANCE
 PERIOD, AND SHALL NOT ACCUMULATE INTEREST OR BE SUBJECT TO LATE FEES.
   4.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW, ADHERENCE WITH THIS
 SECTION SHALL BE A  CONDITION  PRECEDENT  TO  COMMENCING  A  FORECLOSURE
 ACTION  STEMMING  FROM  MISSED  PAYMENTS WHICH WOULD HAVE OTHERWISE BEEN
 SUBJECT TO THIS SECTION. A DEFENDANT MAY RAISE  THE  VIOLATION  OF  THIS
 SECTION  AS  A  DEFENSE TO A FORECLOSURE ACTION COMMENCED ON THE DEFEND-
 ANT'S PROPERTY WHEN SUCH ACTION IS BASED ON MISSED PAYMENTS  THAT  WOULD
 HAVE OTHERWISE BEEN SUBJECT TO THIS SECTION.
   5.  NOTWITHSTANDING  ANYTHING  TO  THE  CONTRARY IN THIS SECTION, THIS
 SECTION SHALL NOT APPLY TO, AND DOES NOT AFFECT ANY MORTGAGE LOANS MADE,
 INSURED, OR SECURITIZED BY ANY AGENCY OR INSTRUMENTALITY OF  THE  UNITED
 STATES,  ANY  GOVERNMENT  SPONSORED  ENTERPRISE,  OR A FEDERAL HOME LOAN
 BANK, OR THE RIGHTS AND OBLIGATIONS OF ANY LENDER, ISSUER,  SERVICER  OR
 TRUSTEE  OF  SUCH  OBLIGATIONS,  INCLUDING  SERVICERS FOR THE GOVERNMENT
 NATIONAL MORTGAGE ASSOCIATION.
   § 2. This act shall take effect immediately.

co-Sponsors

2019-S8454A (ACTIVE) - Details

See Assembly Version of this Bill:: A10876
Current Committee:: Senate Banks
Law Section:: Banking Law
Laws Affected:: Add §9-y, Bank L
Versions Introduced in 2021-2022 Legislative Session:: S2195, A6079

2019-S8454A (ACTIVE) - Summary

2019-S8454A (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S8454a

SPONSOR: KAVANAGH
 
TITLE OF BILL:

An act to amend the banking law, in relation to authorizing commercial
mortgage forbearance during the COVID-19 pandemic

 
PURPOSE OF BILL:

This bill would add a new section 9-x to the banking law to require New
York regulated institutions to grant 90 days of forbearance to qualified
commercial mortgagors who can demonstrate financial hardship during the
NY on PAUSE order caused by the COVID-19 pandemic.

This bill would allow any mortgagor granted forbearance to defer their
payments to a non-interest bearing balloon payment due twelve months
after the end of the forbearance period. The bill would also give
commercial tenants in buildings receiving forbearance the ability to
receive a rental deferment proportional to the tenant's share of the
rental income generated by the mortgaged property.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 of the bill adds a new section 9-x to the banking law.

Subsection 1 of section 9-x of the banking law sets definitions.

Subsection 2 of section 9-x of the banking law would require New York
regulated institutions to grant 120 days of forbearance to any qualified
commercial mortgagor who can demonstrate financial hardship during the
NY on PAUSE order for the county in which the encumbered property is
located. Mortgagors must submit an application for forbearance which
must be made widely available by the lending institution. Such forbear-
ance is available to those already in arrears or on a trial period plan,
and may be backdated to March 7, 2020.

Subsection 3 of section 9-x of the banking law would give mortgagors the
ability to defer the accumulated arrears as an interest-free balloon
payment due twelve months after the forbearance period ends.  This
section also provides commercial tenants with a rental deferment propor-
tional to their share of the total rental income generated by the mort-
gaged property. Mortgagors who receive this forbearance cannot evict
tenants for unpaid rent during the forbearance period.

Subsection 4 of section 9-x of the banking law requires adherence to
this section as a condition precedent in all foreclosure proceedings,
and allows defendants in such proceedings to raise any violations as a
defense when the action is based on missed payments otherwise subject to
this section.

Subsection 5 of section 9-x of the banking law specifies that this
section will not be applicable to mortgages made, insured, or securi-
tized by any agency or instrumentality of the United States, any Govern-
ment Sponsored Enterprise, or a Federal Home Loan Bank, or the rights
and obligations of any lender, issuer, servicer or trustee of such obli-
gations.

Section 2 of the bill sets forth the effective date.
 
JUSTIFICATION:

As the COVID-l9 pandemic continues to wreak havoc on New York, and with
State and local governments mandating the shuttering of all but essen-
tial businesses in the interest of protecting public health, New York
has seen a rapid and unprecedented economic decline. Many New York busi-
nesses will not be able to keep up with mortgage payments during this
time. With the Governor's issuance of Executive Order 202.9, some resi-
dential mortgagors have been granted forbearance, but this order has
left commercial mortgagors scrambling. A moratorium on foreclosure
proceedings is simply not enough to quell the fears of this economic
crisis among our small businesses. Without this legislation, businesses
would be at risk of mass foreclosures once the moratorium is lifted.

Commercial mortgagors who qualify for this program, including those with
mortgages on agricultural properties, mixed-use properties, and multi-
family mortgagors with five or more units will be able to defer their
missed payments into a non-interest bearing balloon payment due one year
after the forbearance period ends. This offers a chance for our busi-
nesses to survive this crisis and get back on their feet.  Commercial
tenants will also be able to receive a rental deferment proportional to
their share of the total rent generated by the property for which mort-
gage forbearance is received. Therefore, if a commercial tenant makes up
10% of the building's total rent roll, they can defer 10% of the total
forbearance received from their rental obligation for 12 months after
the forbearance period ends.  Tenants in properties who receive this
forbearance will also be protected from eviction for nonpayment of rents
during the forbearance period.

By passing this legislation, we can provide essential security to small
businesses across New York, ensuring that no one will be subject to
foreclosure, or lose their place of business due the COVID-19 pandemic.

 
LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-S8454A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8454--A
 
                             I N  S E N A T E
 
                               June 3, 2020
                                ___________
 
 Introduced  by Sens. KAVANAGH, KAMINSKY -- read twice and ordered print-
   ed, and when printed to be committed to  the  Committee  on  Banks  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee
 
 AN ACT to amend the banking law, in relation to  authorizing  commercial
   mortgage forbearance during the COVID-19 pandemic

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The banking law is amended by adding a new section  9-y  to
 read as follows:
   § 9-Y. MORTGAGE FORBEARANCE. 1. AS USED IN THIS SECTION, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A)  "COVERED  PERIOD"  MEANS MARCH SEVENTH, TWO THOUSAND TWENTY UNTIL
 THE DATE ON WHICH NONE  OF  THE  PROVISIONS  THAT  CLOSED  OR  OTHERWISE
 RESTRICTED  PUBLIC  OR  PRIVATE  BUSINESSES OR PLACES OF PUBLIC ACCOMMO-
 DATION, OR REQUIRED POSTPONEMENT OR CANCELLATION  OF  ALL  NON-ESSENTIAL
 GATHERINGS  OF INDIVIDUALS OF ANY SIZE FOR ANY REASON IN EXECUTIVE ORDER
 NUMBERS 202.3, 202.4, 202.5, 202.6, 202.7, 202.8, 202.10, 202.11, 202.13
 OR 202.14 OF TWO THOUSAND TWENTY, AS EXTENDED BY EXECUTIVE ORDER NUMBERS
 202.28 AND 202.31 AND AS FURTHER EXTENDED BY ANY FUTURE EXECUTIVE ORDER,
 ISSUED IN RESPONSE TO THE COVID-19 PANDEMIC CONTINUE  TO  APPLY  IN  THE
 COUNTY  IN  WHICH THE PROPERTY ENCUMBERED BY THE MORTGAGE IN QUESTION IS
 LOCATED; AND
   (B) "REGULATED INSTITUTION"  MEANS  ANY  NEW  YORK  REGULATED  BANKING
 ORGANIZATION  AS  DEFINED  UNDER THIS CHAPTER AND ANY NEW YORK REGULATED
 MORTGAGE SERVICER ENTITY SUBJECT TO THE AUTHORITY OF THE DEPARTMENT.
   2. NOTWITHSTANDING ANY OTHER PROVISION  OF  LAW,  NEW  YORK  REGULATED
 INSTITUTIONS SHALL:
   (A)  MAKE APPLICATIONS FOR FORBEARANCE OF ANY PAYMENT DUE ON A COMMER-
 CIAL MORTGAGE OF A PROPERTY LOCATED IN NEW YORK WIDELY AVAILABLE TO  ANY
 QUALIFIED  COMMERCIAL  MORTGAGOR  INCLUDING  THOSE  WHO  ARE  ALREADY IN
 ARREARS OR ON A TRIAL PERIOD PLAN OR WHO HAVE  APPLIED  FOR  LOSS  MITI-
 GATION AND WHO DEMONSTRATE FINANCIAL HARDSHIP DURING THE COVERED PERIOD;
 AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD16436-03-0

 S. 8454--A                          2
 
   (B)  GRANT SUCH FORBEARANCE FOR A PERIOD OF ONE HUNDRED TWENTY DAYS TO
 ANY SUCH QUALIFIED COMMERCIAL  MORTGAGOR,  SUBJECT  TO  THE  SAFETY  AND
 SOUNDNESS REQUIREMENTS OF THE REGULATED INSTITUTION.
   (C)  SUCH  FORBEARANCE MAY BE BACKDATED TO MARCH SEVENTH, TWO THOUSAND
 TWENTY.
   3. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ANY  MORTGAGE  FORBEAR-
 ANCE GRANTED BY A REGULATED INSTITUTION PURSUANT TO THIS SECTION, OR ANY
 OTHER  LAW, RULE OR REGULATION, TO THE QUALIFIED COMMERCIAL MORTGAGOR AS
 A RESULT OF FINANCIAL  HARDSHIP  DURING  THE  COVERED  PERIOD  SHALL  BE
 SUBJECT TO THE FOLLOWING PROVISIONS:
   (A)  THE  REGULATED INSTITUTION SHALL DEFER ARREARS ACCUMULATED DURING
 THE FORBEARANCE PERIOD AS A NON-INTEREST BEARING BALLOON PAYMENT PAYABLE
 TWELVE MONTHS AFTER THE END OF THE FORBEARANCE PERIOD  AND  SHALL  WAIVE
 ANY LATE FEES ACCUMULATED AS A RESULT OF THE FORBEARANCE; AND
   (B)  THE  TOTAL VALUE OF THE DEFERRED MORTGAGE PAYMENT SHALL BE APPOR-
 TIONED EACH MONTH TO EACH TENANT ACCORDING  TO  THE  PERCENTAGE  OF  THE
 TOTAL RENTS DUE THAT THEIR RENTAL OBLIGATION REPRESENTS ON THE MORTGAGED
 PROPERTY  IN  RECEIPT  OF  THE FORBEARANCE. EACH COMMERCIAL TENANT SHALL
 HAVE THEIR PRO RATA SHARE OF THE FORBORNE MORTGAGE PAYMENT  BE  DEFERRED
 EACH  MONTH  FOR  THE  DURATION OF THE FORBEARANCE PERIOD. SUCH DEFERRED
 RENT SHALL BE DUE WITHIN TWELVE MONTHS AFTER THE END OF THE  FORBEARANCE
 PERIOD,  AND  SHALL  NOT ACCUMULATE INTEREST OR BE SUBJECT TO LATE FEES;
 AND
   (C) NO EVICTION PROCEEDINGS MAY BE COMMENCED OR CONTINUED AGAINST  ANY
 RESIDENTIAL  OR  COMMERCIAL TENANT FOR NONPAYMENT OF RENTS THAT CAME DUE
 DURING THE FORBEARANCE PERIOD.
   4. NOTWITHSTANDING ANY OTHER PROVISION OF  LAW,  ADHERENCE  WITH  THIS
 SECTION  SHALL  BE  A  CONDITION  PRECEDENT  TO COMMENCING A FORECLOSURE
 ACTION STEMMING FROM MISSED PAYMENTS WHICH  WOULD  HAVE  OTHERWISE  BEEN
 SUBJECT  TO  THIS  SECTION.  A DEFENDANT MAY RAISE THE VIOLATION OF THIS
 SECTION AS A DEFENSE TO A FORECLOSURE ACTION COMMENCED  ON  THE  DEFEND-
 ANT'S  PROPERTY  WHEN SUCH ACTION IS BASED ON MISSED PAYMENTS THAT WOULD
 HAVE OTHERWISE BEEN SUBJECT TO THIS SECTION.
   5. NOTWITHSTANDING ANYTHING TO THE  CONTRARY  IN  THIS  SECTION,  THIS
 SECTION SHALL NOT APPLY TO, AND DOES NOT AFFECT ANY MORTGAGE LOANS MADE,
 INSURED,  OR  SECURITIZED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
 STATES, ANY GOVERNMENT SPONSORED ENTERPRISE,  OR  A  FEDERAL  HOME  LOAN
 BANK,  OR  THE RIGHTS AND OBLIGATIONS OF ANY LENDER, ISSUER, SERVICER OR
 TRUSTEE OF SUCH OBLIGATIONS,  INCLUDING  SERVICERS  FOR  THE  GOVERNMENT
 NATIONAL MORTGAGE ASSOCIATION.
   § 2. This act shall take effect immediately.

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Senate Bill S8454A

Sponsored By

Archive: Last Bill Status - In Senate Committee Banks Committee

Bill Amendments

co-Sponsors

2019-S8454 - Details

2019-S8454 - Summary

2019-S8454 - Sponsor Memo

2019-S8454 - Bill Text download pdf

co-Sponsors

2019-S8454A (ACTIVE) - Details

2019-S8454A (ACTIVE) - Summary

2019-S8454A (ACTIVE) - Sponsor Memo

2019-S8454A (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S8454A

Share this bill

Sponsored By

Brian Kavanagh

Archive: Last Bill Status - In Senate Committee Banks Committee

Bill Amendments

co-Sponsors

Todd Kaminsky

2019-S8454 - Details

2019-S8454 - Summary

2019-S8454 - Sponsor Memo

2019-S8454 - Bill Text download pdf

co-Sponsors

Todd Kaminsky

2019-S8454A (ACTIVE) - Details

2019-S8454A (ACTIVE) - Summary

2019-S8454A (ACTIVE) - Sponsor Memo

2019-S8454A (ACTIVE) - Bill Text download pdf

Comments