General Assembly Raised Bill No. 407
February Session, 2012 LCO No. 1819
*01819_______PD_*
Referred to Committee on Planning and Development
Introduced by:
(PD)
General Assembly
Raised Bill No. 407
February Session, 2012
LCO No. 1819
*01819_______PD_*
Referred to Committee on Planning and Development
Introduced by:
(PD)
AN ACT CONCERNING THE ASSIGNMENT OF MORTGAGE DEBTS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (g) of section 49-10 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2012):
(g) Any assignment of a mortgage debt shall be recorded. If an assignment is presented for recording more than sixty days after such assignment, the person recording such assignment shall pay to the town clerk a surcharge equal to two hundred dollars for each week or part of a week following the expiration of the sixty-day period, up to a maximum amount of five thousand dollars. Recordation of an assignment of mortgage debt is not sufficient notice of the assignment to the party obliged to pay for purposes of subsection (d) or (e) of this section.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2012 49-10(g)
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2012
49-10(g)
Statement of Purpose:
To require any assignment of a mortgage debt to be recorded not later than sixty days after such assignment.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]