Matthew Dababneh
- Democratic
Author
Existing law, beginning January 1, 2018, requires, among other things, that a mortgage guaranty insurer limit its coverage to no more than a net of 30% at risk of the entire indebtedness to the insured for the class of insurance that insures against financial loss by reason of nonpayment of principal, interest, and other sums under any evidence of indebtedness secured by a mortgage, deed of trust, or other instrument constituting a first lien or charge on a residential building or a condominium unit or buildings designed for occupancy by not more than 4 families. Existing law, beginning January 1, 2018, also authorizes a mortgage guaranty insurer to extend its coverage for this class of insurance beyond the established limits if the excess is insured by a contract of reinsurance. This bill would delete the above provisions.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 62, Statutes of 2016.
Enrolled and presented to the Governor at 4:30 p.m.
In Assembly. Ordered to Engrossing and Enrolling.
Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 4649.).
Read second time. Ordered to Consent Calendar.
From committee: Do pass. To Consent Calendar. (Ayes 8. Noes 0.) (June 22).
In committee: Set, first hearing. Hearing canceled at the request of author.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 4359.)
Read second time. Ordered to Consent Calendar.
From committee: Do pass. To Consent Calendar. (Ayes 13. Noes 0.) (April 6).
From printer. May be heard in committee February 12.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1645 | HTML |
| 01/12/16 - Introduced | |
| 07/07/16 - Enrolled | |
| 07/22/16 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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