HB218 Alabama 2019 Session
Bill Summary
Under existing law, secured creditors are only required to submit for recording the satisfaction of any residential mortgages
Non-residential mortgages, including commercial mortgages, are excluded from the satisfaction reporting requirements of the Alabama Residential Mortgage Satisfaction Act and a satisfaction is only recorded upon a written request of a mortgagor or a creditor of the mortgagor
This bill would expand that act requiring recordation of satisfaction to include non-residential mortgages, and would rename that act the "Alabama Mortgage Satisfaction Act." This bill would also make conforming changes in the Code
To expand the Alabama Residential Mortgage Satisfaction Act to include non-residential mortgages and to rename that act accordingly; and to amend Sections 35-10-26 and 35-10-30 to make conforming changes.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 29, 2019 | S | Pending third reading on day 27 Favorable from Judiciary |
| May 29, 2019 | S | Read for the second time and placed on the calendar |
| May 28, 2019 | S | Read for the first time and referred to the Senate committee on Judiciary |
| May 23, 2019 | H | Engrossed |
| May 23, 2019 | H | Motion to Read a Third Time and Pass adopted Roll Call 992 |
| May 23, 2019 | H | Motion to Adopt adopted Roll Call 991 |
| May 23, 2019 | H | Financial Services first Substitute Offered |
| May 23, 2019 | H | Third Reading Passed |
| April 11, 2019 | H | Read for the second time and placed on the calendar with 1 substitute and |
| March 19, 2019 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | May 29, 2019 | Committee Room 325 at 08:30 | Senate JUDY Hearing |
| Hearing | April 10, 2019 | Room 617 at 09:00 | House FS Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB218 Alabama 2019 Session - Engrossed |
| Bill Text | HB218 Alabama 2019 Session - Introduced |
| Bill Amendments | House Financial Services first Substitute Offered |