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Blog Posts by Robert Harrison:
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Indiana Enacts Provisions Regarding County Recording Matters
The state of Indiana enacted provisions regarding miscellaneous county recording matters. Many minor amendments have been made to the Indiana Code through Senate Bill 505, for the purposes of this article we will focus on some of the new provisions added to the code.
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Iowa Enacts Provisions Regarding its Uniform Fiduciary Access to Digital Assets Act
The state of Iowa enacted provisions regarding its Uniform Fiduciary Access to Digital Assets Act. The act clarifies the law regarding access to digital assets in the case of death or incapacitation and grants fiduciaries access to a user’s online accounts, correspondences, and other computer files, if specified in his or her will, trust, or similar agreement.
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Illinois Modifies Provisions Regarding Annual Audits of Residential Mortgage Licensees
The state of Illinois modified its provisions regarding annual audits under the Residential Mortgage License Act.
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Ohio Amends Provisions Regarding Unconscionable Acts or Practices Relating to Residential Mortgages
Ohio has modified provisions regarding unconscionable acts or practices as they relate to residential mortgages.
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Ohio Issues Correction to Mortgage Loan Prepayment Penalty Adjustment for 2017
The Ohio Department of Commerce has issued a correction to the previously published loan prepayment penalty adjustment for 2017.
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Kentucky Adopts Provisions Relating to Mortgage Company and Broker Licensing and Registration
The Kentucky Department of Financial Institutions, Division of Non-Depository Institutions, adopted provisions relating to licensing and registration that are effective immediately. These adopted provisions explain the processes and requirements for licensure, registration, and electronic submission of filings and fees with the nationwide mortgage licensing system operated by the State Regulatory Registry, LLC.
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Illinois Adopts Provisions under the Real Estate License Act of 2000
The state of Illinois adopted new provisions and amended many parts of the Real Estate License Act effective September 2, 2016; these changes were made as a result of statutory changes as well as industry requested changes. This article will discuss some of the new sections added to the act.
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Illinois Enacts Digital Assets Act Provisions
Illinois House Bill 4648, regarding The Revised Uniform Fiduciary Access to Digital Assets Act, covers procedures and requirements for the access and control by guardians, executors, agents, and other fiduciaries of the digital assets belonging to persons who are deceased, legally disabled, or subject to a trust. Among other items, the bill covers applicability of the Act, user direction for disclosure of digital assets, terms-of-service agreements, custodian compliance and immunity, and the Act’s relation to federal laws governing electronic signatures.
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Illinois Amends Credit Union Act
The Illinois Credit Union Act has been amended by changing Sections 4, 22, 33, 46, and 52 and adding Section 64.7. This article will highlight some of the most important changes. These provisions are effective immediately.
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Maine Aligns State and Federal Provisions Regarding Alternative Mortgage Transactions
The Maine Department of Professional and Financial Regulation adopted provisions, effective immediately, that will help to unify the Bureau of Financial Institutions and Bureau of Consumer Credit Protection’s Alternative Mortgage Transactions joint rule with the CFPB’s Regulation D.