Mississippi House Bill 860 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on February 4 2014 - 100% progression
Action: 2014-02-04 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Amend Section 89-5-21, Mississippi Code Of 1972, To Increase The Amount Of The Penalty On A Mortgagee Who, After Having Received Full Payment Of The Money Due By The Mortgage, Does Not Cancel The Mortgage Within One Month After Written Request To Do So By The Debtor; To Amend Section 75-9-625, Mississippi Code Of 1972, To Increase The Amount Of The Penalty On A Secured Party Under The Uniform Commercial Code Who, After There Is No Obligation Secured By The Collateral Covered By The Financing Statement, Does Not Cause A Termination Statement For The Financing Statement To Be Filed Within Twenty Days After Demand To Do So By The Debtor; To Bring Forward Section 75-9-513, Mississippi Code Of 1972, Which Sets Out The Requirements And Procedures For The Filing Of A Termination Statement, For The Purposes Of Amendment; And For Related Purposes.

Mortgages and other secured lenders; increase penalty for failure to cancel record of debt after demand of debtor.

Rep. Preston Sullivan [D]

Date	Chamber	Action
2014-02-04	House	Died In Committee
2014-01-20	House	Referred To Banking and Financial Services

Type	Source
Summary	https://billstatus.ls.state.ms.us/2014/pdf/history/HB/HB0860.xml
Text	https://billstatus.ls.state.ms.us/documents/2014/html/HB/0800-0899/HB0860IN.htm