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Maryland Updates: Foreclosure Property Registry, Escrow Accounts for Utility Assessments, Uniform Electronic Recording Act, Consumer Protection
House Bill 848 amends provisions in its consumer protection statute regarding consumer reporting agencies. HB 848 allows a consumer to bring an action or proceeding against a consumer reporting agency. HB 848 also alters the method by which a consumer may place or remove a security freeze on his or her consumer report.
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Colorado Enacts Uniform Trust Code Provisions
Colorado has added new provisions to its Uniform Trust Code. These provisions are effective as of January 1, 2019.
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Kentucky Enacts Provisions Regarding Uniform Power of Attorney Act
The Commonwealth of Kentucky enacted provisions relating to its Uniform Power of Attorney Act, these provisions are effective on July 13, 2018. Kentucky Revised Statutes Chapter 457 is established and adopts portions of the Uniform Power of Attorney Act of 2006.
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Pennsylvania Enacts Mortgage Servicing Provisions
The Pennsylvania Department of Banking and Securities has amended Title 10 of the Pennsylvania Code by adding Chapter 59. This chapter is effective immediately.
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Montana Adopts Provisions Regarding Renewal Fees
The Montana Department of Administration amended multiple provisions that include reducing its licensing renewal fees for 2019. These provisions are effective immediately.
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Minnesota Publishes Dollar Amounts Regarding Consumer Credit Code Adjustments
The Minnesota Department of Commerce published its Consumer Credit Code Adjustments for 2018. Dollar amounts in the Regulated Loan Act and the Minnesota Consumer Credit Code will increase effective July 1, 2018.
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Oklahoma Consumer Loans and Supervised Lenders
Oklahoma Modifies Provisions Regarding Consumer Loans The state of Oklahoma has recently passed House Bill 1151, regarding convenience fees on consumer loan payments. These provisions are effective on November 1, 2018. The new provisions state that, in addition to the typical loan finance charges permitted by statute, a lender may also charge a “convenience fee” […]
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Legislature Recodifies and Revises Maine Probate Code
The state of Maine modified provisions under its Probate Code including its Uniform Power of Attorney Act. Maine repealed Sec. A-1. 18-A MRSA and enacted Sec. A-2. 18-C MRSA to recodify and revise the Maine Probate Code. These provisions are effective on July 17, 2018.
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Colorado Amends Foreclosure Provisions
Colorado has amended several of its provisions concerning modification of the foreclosure process on property that is encumbered by a deed of trust.
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Oregon Adopts Rules Relating to Mortgage Servicer Licensing
The Oregon Department of Consumer and Business Services, Finance, and Securities Regulation adopted rules relating to mortgage servicer licensing that include: application, liquidity, surety bond or irrevocable letter of credit, and fees. These provisions are effective immediately.
