l9n/ Connecticut

2007 Regular Session

Senate Bill 1143

AN ACT CONCERNING MORTGAGE, SMALL LOAN AND MONEY TRANSMITTER LICENSEES, MORTGAGE LOANS AND EMERGENCY ORDERS OF THE BANKING COMMISSIONER AND ADOPTING THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT.

Became law as Public Act 07-91, signed June 5, 2007, 116 days after it was filed.

What it does

The synopsis the General Assembly published with the bill.

To clarify the definitions of "mortgage broker" and "originator" and clarify that real estate brokers and salespersons who act as a mortgage broker or originator shall be licensed or registered as such; to clarify the Banking Commissioner's authority to adopt regulations governing the small loan business in association with other businesses; to clarify the information required to effect a change of name or location of a first or secondary mortgage loan licensee or a change of person with supervisory authority at a licensed location, the time frame for filing such information with the Banking Commissioner and the time frame for the Banking Commissioner to disapprove any such change; to clarify the applicability of the terms "money transmission", "money", "monetary value", "payment instrument" and "Connecticut payment instrument" within the provisions of the Money Transmission Act; to amend the provisions relating to the payment of loan proceeds to clarify inconsistencies and ensure that borrowers are paid the loan proceeds in a timely fashion; and to authorize the Banking Commissioner to order summary suspension of a license if said commissioner finds that public health, safety or welfare requires emergency action and to require the licensee to take or refrain from taking such action as in the commissioner's opinion will effectuate the purposes of section 36a-51 of the general statutes, pending proceedings for suspension, revocation or refusal to renew.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

3 co-sponsors

Louis C. DeLuca, Joseph J. Crisco Jr., Bob Duff

In the House of Representatives

    1 co-sponsor

    Toni Boucher

    Its course

    February 9 to June 5, 2007, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

    Each committee stop sits inside its chamber.

    Every action34 actions on 17 days

    In the SenateFeb 9 to May 1696 days

    Banking CommitteeFeb 9 to Mar 625 days

    Insurance and Real Estate CommitteeApr 4 to Apr 117 days

    Judiciary CommitteeApr 18 to Apr 279 days

    In the House of RepresentativesMay 16 to May 226 days

    Waiting to be sentMay 22 to Jun 413 days

    With the GovernorJun 4 to Jun 51 day

    Amendments

    Each amendment offered, and what became of it.

    • Senate floor amendmentAdopted

      Adopted May 16 · Adopted May 22

    Text

    Each version as the General Assembly printed it.

    l9n doesn't hold this bill's text yet.

    What happened

    In l9n's words, one line for each step. Every action as the General Assembly published it is below.

    In the Senate Feb 9 – May 16

    1. Feb 9Introduced and sent to Banking Committee
    2. Feb 15Heard in Banking Committee
    3. Mar 6Banking Committee recommended a substitute for it
    4. Apr 4Sent to Insurance and Real Estate Committee
    5. Apr 11Insurance and Real Estate Committee recommended it
    6. Apr 18Sent to Judiciary Committee
    7. Apr 27Judiciary Committee recommended it
    8. May 16The Senate adopted Senate Amendment A
    9. Passed the Senate with Senate Amendment A

    In the House of Representatives May 17 – May 22

    1. May 17Arrived in the House of Representatives
    2. May 22The House of Representatives adopted Senate Amendment A
    3. Passed the House of Representatives with Senate Amendment A

    To the Governor Jun 1 – Jun 5

    1. Jun 1Numbered Public Act 07-91
    2. Jun 4Sent to the Secretary of the State
    3. Jun 5Signed by the Governor
    All 34 actions, as published
    1. Feb 9REF. TO JOINT COMM. ONBoth houses
    2. Feb 15PUBLIC HEARINGBoth houses
    3. Mar 6Joint Favorable SubstituteBoth houses
    4. Mar 7FILED WITH LCOBoth houses
    5. Mar 15REFERRED TO OLR, OFABoth houses
    6. Mar 21RPTD. OUT OF LCOBoth houses
    7. Mar 21FAV. RPT., TAB. FOR CAL., SEN.Senate
    8. Mar 21SENATE CALENDAR NUMBERSenate
    9. Mar 21FILE NO.Both houses
    10. Apr 4REF. BY SEN. TO COMM. ONSenate
    11. Apr 4IMMEDIATE TRANSMITTAL TO COMMITTEESenate
    12. Apr 11Joint FavorableBoth houses
    13. Apr 11FILED WITH LCOBoth houses
    14. Apr 11RPTD. OUT OF LCOBoth houses
    15. Apr 11NO NEW FILE BY COMM. ONBoth houses
    16. Apr 11FAV. RPT., TAB. FOR CAL., SEN.Senate
    17. Apr 18REF. BY SEN. TO COMM. ONSenate
    18. Apr 18IMMEDIATE TRANSMITTAL TO COMMITTEESenate
    19. Apr 27Joint FavorableBoth houses
    20. Apr 30FILED WITH LCOBoth houses
    21. Apr 30RPTD. OUT OF LCOBoth houses
    22. Apr 30NO NEW FILE BY COMM. ONBoth houses
    23. Apr 30FAV. RPT., TAB. FOR CAL., SEN.Senate
    24. May 16SEN. ADOPTED SEN. AMEND. SCH.Senate
    25. May 16SEN. PASSED, SEN. AMEND. SCH.Senate
    26. May 16ON CONSENT CALENDARSenate
    27. May 17FAV. RPT., TABLED FOR HOUSE CALENDARHouse of Representatives
    28. May 17HOUSE CALENDAR NUMBERHouse of Representatives
    29. May 22HOUSE ADOPTED SEN. AMEND. SCH.House of Representatives
    30. May 22HOUSE PASSED, SEN. AMEND. SCH.House of Representatives
    31. May 22IN CONCURRENCEHouse of Representatives
    32. Jun 1PUBLIC ACTBoth houses
    33. Jun 4TRANSMITTED TO SECRETARY OF THE STATEBoth houses
    34. Jun 5SIGNED BY GOVERNORGovernor