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SB 1288: Nonjudicial Foreclosure/Commercial Real Property

GENERAL BILL by Hays

Nonjudicial Foreclosure/Commercial Real Property; Cites this act as the "Nonjudicial Foreclosure of Commercial Real Property Act." Provides for appointment of a trustee. Provides for trustee initiation of foreclosure of mortgage liens. Provides requirements to be met before encumbered property may be sold by trustee. Provides that provisions concerning the trustee foreclosure procedure do not impair or otherwise affect a foreclosing creditor's right to bring a judicial foreclosure action, etc.

Effective Date: 7/1/2011
Last Action: 5/7/2011 Senate - Died in Judiciary
Location: In committee/council (JU)
Bill Text: Web Page | PDF
Senate Committee References:
  1. Judiciary (JU)
  2. Banking and Insurance (BI)
  3. Budget (BC)



Bill History

Date Chamber Action
2/22/2011 Senate • Filed
3/7/2011 Senate • Referred to Banking and Insurance; Judiciary; Budget -SJ 95
3/8/2011 Senate • Introduced -SJ 95
3/23/2011 Senate • Original reference(s) removed: Banking and Insurance; Judiciary; Budget
• References corrected to Judiciary; Banking and Insurance; Budget -SJ 269
• Now in Judiciary
5/7/2011 Senate • Indefinitely postponed and withdrawn from consideration
• Died in Judiciary