HB0091 • 2014

Real estate loans-limitations.

AN ACT relating to banks and restricted transactions; repealing loan-to-value and duration restrictions on real estate loans by banks; and providing for an effective date.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Representative Stubson
Last action: 2014-03-07
Official status: enrolled
Effective date: 7/1/2014

Plain English Breakdown

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

Bill History

2014-03-07 LSO
Assigned Chapter Number
2014-03-06 Governor
Governor Signed HEA0017
2014-03-04 Senate
S President Signed HEA No. 0017
2014-02-28 House
H Speaker Signed HEA No. 0017
2014-02-28 LSO
Assigned Number HEA0017
2014-02-28 Senate
S Passed 3rd Reading
2014-02-27 Senate
S Passed 2nd Reading
2014-02-26 Senate
S Passed CoW
2014-02-24 Senate
S Placed on General File
2014-02-24 Senate
S09 Recommended Do Pass
2014-02-21 Senate
S Introduced and Referred to S09
2014-02-20 Senate
S Received for Introduction
2014-02-20 House
H Passed 3rd Reading
2014-02-19 House
H Passed 2nd Reading
2014-02-18 House
H Passed CoW
2014-02-17 House
H Placed on General File
2014-02-17 House
H09 Recommended Do Pass
2014-02-13 House
H Introduced and Referred to H09
2014-02-11 House
H Received for Introduction
2014-02-10 LSO
Bill Number Assigned

Official Summary Text

Bill No.: <billno> Drafter: <drafterinit>

Bill No.:
HB0091
Drafter:

JWL

LSO No.:
14LSO-0357
Effective Date:

7/1/2014

Enrolled Act No.:
HEA0017

Chapter No.:
CH0032

Prime Sponsor:
Representative Stubson

Catch Title:
Real estate loans-limitations.

Subject:
Repeals mortgage loan-to-value and term limitations.

Summary/Major
Elements:

Current law restricts real estate loans to 90% of the
appraised value of the property securing the loan (95% if covered by mortgage
insurance) and to a term of 30 years.

This act repeals the limits on loan-to-value and term.

Current Bill Text

Read the full stored bill text

WORKING DRAFT
2014
STATE OF
WYOMING
14LSO-0357

AN ACT relating to
banks and restricted transactions; repealing loan-to-value and duration restrictions on real estate loans by banks;
and providing for an effective date.

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

Section 1.

W.S. 13
‑
3
‑
401(b)(intro), (c) and (f)
is
repealed.

Section 2.

This act is effective July 1, 2014.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

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