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HB0100 • 2007

Mortgage insurance.

AN ACT relating to property insurance; prohibiting insurers from requiring property insurance exceeding the value of improvements on real property; providing penalties; and providing for an effective date.

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Representative Illoway
Last action
2007-03-01
Official status
inactive
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HB0100HS001

Standing Committee • H09

Adopted

Plain English: Adopted Standing Committee by H09

  • This amendment summary is using official source text because generated interpretation was skipped for this run.
  • The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

  1. 2007-03-01 Senate

    S09 Motion to Do Pass Failed

  2. 2007-02-06 Senate

    S Introduced and Referred to S09; No Report Prior to CoW Cutoff

  3. 2007-02-06 Senate

    S Received for Introduction

  4. 2007-02-05 House

    H Passed 3rd Reading

  5. 2007-02-02 House

    H Passed 2nd Reading

  6. 2007-02-01 House

    H Passed CoW

  7. 2007-02-01 House

    Amendment Adopted

  8. 2007-02-01 House

    H Amendments Adopted

  9. 2007-01-26 House

    H Placed on General File

  10. 2007-01-26 House

    H09 Recommended Amend and Do Pass

  11. 2007-01-11 House

    H Introduced and Referred to H09

  12. 2007-01-09 House

    H Received for Introduction

  13. 2007-01-02 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
WORKING DRAFT
2007
STATE OF WYOMING
07LSO-0021.E1

HOUSE BILL
NO.
HB0100

Mortgage insurance.

Sponsored by:
Representative(s) Illoway and Lubnau and Senator(s) Anderson, J., Barrasso and Ross

A BILL

for

AN ACT relating to property insurance; prohibiting lenders from requiring property insurance exceeding the value of improvements on real property; providing penalties; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.
W.S. 1
‑
23
‑
108 is created to read:

1
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23
‑
108.

Requirements on property insurance coverage for loans secured by real property.

(a)

No lender shall require a borrower under a loan secured by real property to provide property insurance coverage on that property in an amount exceeding the replacement value of the improvements on the property.

(b)

Any person harmed by a violation of this section shall be entitled to obtain injunctive relief and may recover reasonable attorney fees and costs.

(c)

A violation of this section does not affect the validity of the loan or the mortgage or deed of trust.

Section 2.
This act is effective July 1, 2007.

(END)

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HB0100