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Iowa Amends Power of Attorney Act
Iowa has made amendments to its Power of Attorney Act regarding an agent’s termination or suspension of authority. These provisions are effective as of July 1, 2018.
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Washington Recent Regulatory Updates
Washington Enacts Law Relating to Services and Processes Available When Residential Real Property is Abandoned or in Foreclosure and Establishes Student Loan Bill of Rights
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Oregon Amends Provisions Regarding Breach of Security of Personal Information
Oregon Senate Bill 1551 creates new provisions and amends existing provisions regarding personal information that is subject to breach of security. These provisions require those that possess personal information that was subject to breach of security to notify those affected by the breach.
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Vermont Adopts Provisions Regarding Privacy of Consumer Financial and Health Information
The Vermont Department of Financial Regulation, Banking Division, adopted provisions relating to Regulation B-2018-01 regarding privacy of consumer financial and health information. This regulation replaces Regulation B-2015-02 and is effective immediately.
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Iowa Amends Provisions Relating to Mortgage Releases and Powers of Attorney
Iowa has made several changes to its mortgage release provisions. These changes are effective as of July 1, 2018. Acknowledging Satisfaction of a Debt The first amendment imposes a time restriction on a mortgagee’s obligation to acknowledge satisfaction of a mortgage debt. A mortgagee now has thirty days from the time payment is made in […]
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Florida Passes Bill Regarding Marital Assets and Liabilities
House Bill 639 establishes a more definitive statutory formula to calculate the marital portion of passive appreciation of a nonmarital asset that is subject to equitable distribution. The bill uses methodology similar to the case law, but uses the amount of mortgage principal paid down during the marriage instead of the amount of the mortgage at the time of marriage.
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Alabama Revises Provisions Regarding Right of Redemption
Alabama has enacted HB90 which amends current law regarding the 180 day right of redemption period after a foreclosure sale. HB90 provides that the right of redemption cannot be exercised more than one year after the date of foreclosure, that the production of proof of mailing of the notice of right of redemption is an affirmative defense to any notice requirement action, and bars any action related to the notice requirement if brought more than one year after the foreclosure sale.
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Alabama Enacts Provisions Regarding Data Breach Notification Act
Alabama has enacted SB318, an act known as the Alabama Data Breach Notification Act of 2018. The act requires that a covered entity provide notice to an individual where that individual’s personally identifying information may have been compromised as a result of a data breach.
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Indiana Modifies Provisions Regarding Recording Requirements and Updates UCCC Dollar Amounts
Through House Bill 1320, the state of Indiana modified its provisions relating to recording requirements as they relate to the disposition of tax sale surplus. The provisions are effective on July 1, 2018. The definition of “substantial property interest of public record” in Section 2. Indiana Code 6-1.1-23.9-3(a), for purposes of the tax sale statutes, […]
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Tennessee Amends Provisions Regarding Interest Rate Limits
Tennessee has enacted HB1944 to amend interest rate limits under its Industrial Loan and Thrift Companies Act. The bill changes current law so that interest rates apply to the amount financed instead of the total amount of the loan. These amendments only apply to certain loans made by industrial loan and thrift companies.
