Description: Residential loans; require lender to have proof that builder has license and workers' compensation insurance before making.
Bill Text: [Introduced]
History of Actions:
|1||01/09 (H) Referred To County Affairs;Judiciary A|
|2||01/30 (H) Died In Committee|
|Effective date||July 1, 2007|
|Deadline||General Bill/Constitutional Amendment|
|Vote type required||Majority|
Principal Author: Lane*
Title: AN ACT TO PROVIDE THAT BEFORE ANY PERSON MAY MAKE A LOAN OR EXTEND CREDIT FOR THE PURPOSE OF RESIDENTIAL CONSTRUCTION OR IMPROVEMENT, THE LENDER SHALL REQUIRE THE BORROWER TO PROVIDE WRITTEN EVIDENCE THAT THE RESIDENTIAL BUILDER OR REMODELER HOLDS A VALID LICENSE OR IS EXEMPT FROM LICENSURE, AND HAS ANY REQUIRED WORKERS' COMPENSATION INSURANCE; AND FOR RELATED PURPOSES.
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