SECOND REGULAR SESSION
[P E R F E C T E D]
SENATE BILL NO. 804
90TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR YECKEL.
Read 1st time January 11, 2000, and 1,000 copies ordered printed.
Read 2nd time January 27, 2000, and referred to the Committee on Financial and Governmental Organization.
Reported from the Committee February 15, 2000, with recommendation that the bill do pass and be placed on the Consent Calendar.
Taken up February 23, 2000. Read 3rd time and placed upon its final passage; bill passed.
TERRY L. SPIELER, Secretary.
To repeal section 443.415, RSMo Supp. 1999, relating to mortgage insurers, and to enact in lieu thereof one new section relating to the same subject.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Section 443.415, RSMo Supp. 1999, is repealed and one new section enacted in lieu thereof, to be known as section 443.415, to read as follows:
443.415. Mortgage insurers may insure a mortgage in an amount not exceeding [ninety-seven] one hundred percent of the fair market value of the authorized real estate security at the time that the loan is made if secured by a first lien or charge on such real estate security.
Return to Senate Home Page