***Not Germane***
AMENDMENT No. 1 PROPOSED TO
Senate Bill NO. 2978
By Senator(s) Hewes
AMEND by inserting the following sections after line 41 and renumbering the succeeding section(s) accordingly:
SECTION 4. All banks shall credit the payment of any mortgage, note or loan to the borrower's account on the date the payment is received by the bank, or by any branch thereof.
SECTION 5. All savings and loan associations shall credit the payment of any mortgage, note or loan to the borrower's account on the date the payment is received by the savings and loan association, or by any branch thereof.
SECTION 6. All savings banks shall credit the payment of any mortgage, note or loan to the borrower's account on the date the payment is received by the savings bank, or by any branch thereof.
SECTION 7. Section 4 of this act shall be codified as a separate code section within Chapter 5 of Title 81, Mississippi Code of 1972.
SECTION 8. Section 5 of this act shall be codified as a separate code section within Chapter 12 of Title 81, Mississippi Code of 1972.
SECTION 9. Section 6 of this act shall be codified as a separate code section within Chapter 14 of Title 81, Mississippi Code of 1972.
FURTHER, AMEND the title by inserting the following after the semicolon on line 7:
TO REQUIRE ALL BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND SAVINGS BANKS TO CREDIT THE PAYMENT OF ANY MORTGAGE, NOTE OR LOAN TO THE BORROWER'S ACCOUNT ON THE DATE THE PAYMENT IS RECEIVED BY THE BANK, SAVINGS AND LOAN ASSOCIATION OR SAVINGS BANK, OR BY ANY BRANCH THEREOF;