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Rep. John A. Fritchey
Filed: 4/18/2006
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09400SB0482ham006 |
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LRB094 10608 RAS 58365 a |
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| AMENDMENT TO SENATE BILL 482
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| AMENDMENT NO. ______. Amend Senate Bill 482, AS AMENDED, |
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| with reference to page and line numbers of House Amendment No. |
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| 5, by replacing lines 29 through 34 on page 3 and line 1 on page |
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| 4 with the following: |
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| ""Financial institution" means any bank, savings bank, |
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| savings and loan association, credit union, trust company, or |
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| subsidiary or affiliate thereof
mortgage broker, mortgage |
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| banker, licensee under the Consumer Installment Loan Act or the |
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| Sales Finance Agency Act, or a corporate fiduciary, subsidiary, |
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| affiliate, parent company, or holding company of any such |
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| licensee, or any institution involved in real estate financing |
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| that is regulated by state or federal law."; and
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| on page 7, immediately below line 10, by inserting the |
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| following: |
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| "(e) This Act does not apply to an employee of a financial |
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| institution when engaged in an evaluation of real property for |
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| the sole use of the financial institution in a transaction that |
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| is exempt from the requirements of Title XI of the federal |
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| Financial Institutions Reform, Recovery, and Enforcement Act |
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| of 1989, as amended, and the regulations promulgated |
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| thereunder. |
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| (f) This Act does not apply to an employee of a licensee |
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| under the Consumer Installment Loan Act, the Sales Finance |
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| Agency Act, or the Residential Mortgage License Act of 1987 or |