Bill Text: HI HB1097 | 2015 | Regular Session | Introduced
Bill Title: Residential Mortgage Loans; Secure and Fair Enforcement for Mortgage Licensing Act; Sole Proprietorships
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-02-18 - The committee(s) on CPC recommend(s) that the measure be deferred. [HB1097 Detail]
Download: Hawaii-2015-HB1097-Introduced.html
HOUSE OF REPRESENTATIVES |
H.B. NO. |
1097 |
TWENTY-EIGHTH LEGISLATURE, 2015 |
|
|
STATE OF HAWAII |
|
|
|
|
|
|
||
|
A BILL FOR AN ACT
relating to the SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 454F-1, Hawaii Revised Statutes, is amended by amending the definition of "sole proprietorship" to read as follows:
""Sole proprietorship" means a mortgage loan originator business that is solely
and personally owned and operated by an individual mortgage loan originator[,
and where there is no legal distinction between the individual business owner
and the business]."
SECTION 2. Statutory material to be repealed is bracketed and stricken.
SECTION 3. This Act shall take effect upon its approval.
INTRODUCED BY: |
_____________________________ |
|
|
Report Title:
Residential Mortgage Loans; Secure and Fair Enforcement for Mortgage Licensing Act; Sole Proprietorships
Description:
Amends the definition of "sole proprietorship" for individual mortgage loan originators subject to the Secure and Fair Enforcement for Mortgage Licensing Act to repeal the qualifier that there be no legal distinction between the individual mortgage loan originator business owner and the business.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.