The following is an update about legislation we reported in the last newsletter as well as another bill signed into law addressing the trustee or substitute trustee and foreclosures.
H454 (S372)-SL2017-27: Changes the intent to modernize recording requirements and eliminate control corners in favor of Grid Control in the preparation of Plats and Subdivisions.
H457 (S373): Performance Guarantees/Subdivision Streets. Passed third reading in the House and was referred to Committee on Rules and Operations of the Senate. We will continue to track its path and support as long as a public data base is available to determine if a street is public or private. Jim Harrell was instrumental in getting this Bill to the floor and not being overlooked.
H488 (S401): Early Rental Termination by Military Members. Re-Referred to Judiciary, If favorable, re-refer to Rules and Operations of the Senate.
H584-SL2017-110: Real Prop./Error Correction & Title Curative. RELANC’s Steve Brown was instrumental in keeping this bill tabled and ultimately being passed.
H625 (S491): HOA/Condo Crime & Fidelity Insurance Policies. Referred to Committee on Rules and Operations of the Senate.
H654 Reduce Mortgage Lender Surety Bonds. Still in the House, referred to Committee on Banking.
H770-SL2017-206: In Summary Prohibits Attorneys who are serving as Trustees from representing either the noteholder or borrowers while initiating a foreclosure proceeding. This modification to Chapter 45-10, in essence makes the ethical opinion law.
We will continue to monitor these and other bills in the coming legislative sessions.
If any RELANC members are also involved in these or other relevant legislative issues, please let Chris Salyer know, at Chris.Salyer@hutchenslawfirm.com. It will be helpful to know which of our members are also engaged in legislative activity. There is a lot of activity in the General Assembly this session and it is our goal to be aware of those which impact our clients and members, before they come to votes.