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FL S1228
Bill
Status
1/19/2010
Primary Sponsor
Mike Fasano
Click for details
AI Summary
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Creates the Mortgage Guaranty Trust Fund within the Office of Financial Regulation to receive fees imposed under Florida Statutes section 494.00172
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Directs trust fund moneys to pay claims against loan originators, mortgage brokers, and mortgage lenders under section 494.00172
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Requires any balance remaining in the trust fund at the end of each fiscal year to stay in the fund for future use, rather than reverting to the state general fund
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Schedules the trust fund to terminate on July 1, 2014, unless terminated sooner, with mandatory review before the scheduled termination date
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Takes effect July 1, 2010
Legislative Description
Mortgage Guaranty TF/Financial Regulation Office [CPSC]
Last Action
Placed on Special Order Calendar; Read 2nd time -SJ 00931; Substituted HB 7019 -SJ 00931; Laid on Table, companion bill(s) passed, see HB 7019 (Ch. 2010-135) -SJ 00931
4/28/2010