HB 1206-1_ Filed 02/01/2010, 09:26 Delaney
Adopted 2/1/2010

Text Box

    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______





    I move that House Bill 1206 be amended to read as follows:

SOURCE: Page 6, line 37; (10)MO120601.6. -->     Page 6, line 37, delete "means a person:" and insert " means:
        (1) a person:
            (A) that engages in Indiana in the extension of mortgages that are subject to a credit service charge or loan finance charge, as applicable, or are payable by written agreement in more than four (4) installments (not including a down payment); and
            (B) to whom the obligation arising from a mortgage is initially payable, either on the face of the note or contract, or by agreement if there is not a note or contract; or
        (2) a person who brokers a mortgage, including a person who:
            (A) directly or indirectly solicits, processes, places, or negotiates mortgages for others;
            (B) offers to solicit, process, place, or negotiate mortgages for others; or
            (C) closes mortgages that may be in the person's own name with funds provided by others and that are thereafter assigned to the person providing funding for the mortgages.
    (b) The term does not include a person described in IC 24-9-2-6(b).
    Page 6, delete lines 38 through 42.
    Page 7, delete lines 1 through 8.
    (Reference is to HB 1206 as printed January 29, 2010.)


Representative DeLaney

MO120601/DI 101     2010