SB 0804

Allows mortgage insurance for up to 100% of the market value of the property

Sponsor:	Yeckel
LR Number:	3602L.02C	Fiscal Note:	3602-02
Committee:	Financial and Governmental Organization
Last Action:	04/26/00 - HCS Reported Do Pass H Banks & Financial Institutions		Journal page:	H1097
	Committee
Title:	SCS SB 804
Effective Date:	August 28, 2000

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HCS/SB 804 - This act allows mortgage insurance to cover 100% of the market value of the property. Under current law, mortgage insurers can provide insurance for up to 97% of the value.

This act adds federal home loan banks, federal farm credit banks and the student loan marketing association to the list of financial institutions in which life insurance companies may invest. This portion of the act is similar to HB 1739 (2000).

A portion of the act has an emergency clause.
STEPHEN WITTE