IL HB2699 | 2019-2020 | 101st General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on July 19 2019 - 100% progression
Action: 2019-07-19 - Public Act . . . . . . . . . 101-0097
Text: Latest bill text (Chaptered) [HTML]

Summary

Amends the Mortgage Act. Adds a person authorized by the mortgagor, grantor, heir, legal representative, or assign to the list of those who may request that the mortgagee of real property shall make, execute, and deliver an instrument in writing releasing a mortgage or deed of trust. Provides that if any mortgagee or trustee shall not, within 30 days (rather than "one month") after the payment of the debt secured by the mortgage or trust deed complies with specific requirements, then he or she shall be liable for the sum of $200 to the aggrieved party. Provides that the successor in interest to the mortgagee or trustee shall not be liable for the $200 penalty if he or she complies with specific requirements within 30 days (rather than "one month") after succeeding to the interest.

Tracking Information

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Title

MORTGAGE ACT-AUTHORIZED PERSON

Sponsors


Roll Calls

2019-05-16 - Senate - Third Reading in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
2019-03-27 - House - Third Reading in House (Y: 111 N: 0 NV: 1 Abs: 1) [PASS]

History

DateChamberAction
2019-07-19HousePublic Act . . . . . . . . . 101-0097
2019-07-19HouseEffective Date January 1, 2020
2019-07-19HouseGovernor Approved
2019-06-14HouseSent to the Governor
2019-05-16HousePassed Both Houses
2019-05-16SenateThird Reading - Passed; 055-000-000
2019-05-14SenatePlaced on Calendar Order of 3rd Reading May 15, 2019
2019-05-14SenateSecond Reading
2019-05-02SenatePlaced on Calendar Order of 2nd Reading May 7, 2019
2019-05-02SenateDo Pass Judiciary; 009-000-000
2019-04-24SenateAssigned to Judiciary
2019-03-27SenateReferred to Assignments
2019-03-27SenateFirst Reading
2019-03-27SenateChief Senate Sponsor Sen. Laura M. Murphy
2019-03-27SenatePlaced on Calendar Order of First Reading
2019-03-27SenateArrive in Senate
2019-03-27HouseThird Reading - Short Debate - Passed 111-000-000
2019-03-19HousePlaced on Calendar Order of 3rd Reading - Short Debate
2019-03-19HouseSecond Reading - Short Debate
2019-03-07HousePlaced on Calendar 2nd Reading - Short Debate
2019-03-05HouseDo Pass / Short Debate Financial Institutions Committee; 015-000-000
2019-02-26HouseAssigned to Financial Institutions Committee
2019-02-14HouseReferred to Rules Committee
2019-02-14HouseFirst Reading
2019-02-14HouseFiled with the Clerk by Rep. Mark L. Walker

Code Citations

ChapterArticleSectionCitation TypeStatute Text
7659052Amended CodeCitation Text
7659054Amended CodeCitation Text

Illinois State Sources


Bill Comments

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