SB 1408: Disposition of Insurance Proceeds
GENERAL BILL by Montford
Disposition of Insurance Proceeds; Adding requirements for mortgagees and assignees holding certain insurance proceeds pending completion of all or part of damage repairs; specifying requirements for the disposition of certain insurance proceeds received by financial institutions and their subsidiaries relating to mortgage loans they hold; providing an exception from a requirement for a financial institution or subsidiary to endorse certain negotiable instruments, etc.
Effective Date: 7/1/2020
Last Action: 3/14/2020 Senate - Died in Banking and Insurance
Bill Text: Web Page | PDF
Last Action: 3/14/2020 Senate - Died in Banking and Insurance
Bill Text: Web Page | PDF
Senate Committee References:
- Banking and Insurance (BI)
- Judiciary (JU)
- Rules (RC)
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Bill History
Date Chamber Action 1/6/2020 Senate • Filed
1/13/2020 Senate • Referred to Banking and Insurance; Judiciary; Rules -SJ 104
1/14/2020 Senate • Introduced -SJ 104
3/14/2020 Senate • Indefinitely postponed and withdrawn from consideration
• Died in Banking and Insurance
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SB 1408, Original Filed Version (Current Bill Version) Posted 1/6/2020 at 11:18 AM
Bill Text: Web Page | PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 999 Disposition of Insurance Proceeds LaMarca Similar Last Action: 3/14/2020 H Died in Insurance and Banking Subcommittee 
Citations - Statutes (2)
Citation Catchline Location in Bill Location In Bill Help 494.0026 Disposition of insurance proceeds. Page 1 (pdf) 655.969 Page 2 (pdf)