|SB 0804||Allows mortgage insurance for up to 100% of the market value of the property|
|LR Number:||3602L.02C||Fiscal Note:||3602-02|
|Committee:||Financial and Governmental Organization|
|Last Action:||04/26/00 - HCS Reported Do Pass H Banks & Financial Institutions||Journal page:||H1097|
|Title:||SCS SB 804|
|Effective Date:||August 28, 2000|
HCS/SB 804 - This act allows mortgage insurance to cover 100% of the market value of the property. Under current law, mortgage insurers can provide insurance for up to 97% of the value.
This act adds federal home loan banks, federal farm credit banks and the student loan marketing association to the list of financial institutions in which life insurance companies may invest. This portion of the act is similar to HB 1739 (2000).
A portion of the act has an emergency clause.