LCO No. 2886 1 of 1
General Assembly Proposed Bill No. 6595
January Session, 2019
LCO No. 2886
Referred to Committee on BANKING
Introduced by:
REP. HARDING, 107th Dist.
AN ACT REQUIRING MORTGAGE COMPANIES TO RELEASE
CERTAIN FUNDS TO HOMEOWNERS FOR THE REPAIR OF
PROPERTY DAMAGE.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That the general statutes be amended to require that mortgage 1
companies release to homeowners at least a portion of any funds the 2
mortgage company has received from an insurance company in 3
connection with a homeowner's claim for property damage, provided 4
such homeowner has entered into a contract with a contractor to repair 5
the property damage. 6
Statement of Purpose:
To require mortgage companies to release certain funds to
homeowners for the repair of property damage.