|SB 0538||Allows residential mortgage brokers to post bond instead of providing annual audits|
|LR Number:||1955L.03T||Fiscal Note:||1955-03|
|Committee:||Financial and Governmental Organization|
|Last Action:||07/10/01 - Signed by Governor||Journal page:|
|Title:||HCS SB 538|
|Effective Date:||August 28, 2001|
HCS/SB 538 - This act allows licensed residential mortgage brokers the option of providing a $100,000 surety bond or $100,000 irrevocable letter of credit instead of an annual audit to the Director of the Division of Finance.
Provisions of this act relating to letter of credit are
similar to provisions contained in TAT SB 179 (2001).
JULIA SOMMER GRUS