General Assembly Proposed Bill No. 121
January Session, 2017 LCO No. 1406
*01406*
Referred to Committee on BANKING
Introduced by:
SEN. MARTIN, 31st Dist.
General Assembly
Proposed Bill No. 121
January Session, 2017
LCO No. 1406
*01406*
Referred to Committee on BANKING
Introduced by:
SEN. MARTIN, 31st Dist.
AN ACT CONCERNING THE AVAILABILITY OF ELECTRONIC FUNDS AT THE TIME OF CLOSING ON A MORTGAGE LOAN.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to provide that any electronic funds required in connection with obtaining a mortgage loan be payable and available to the parties at the time of closing on such loan.
Statement of Purpose:
To assure that funds required in connection with a mortgage loan be available at the time of closing.