Illinois General Assembly - Bill Status for HB3138
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 Bill Status of HB3138  93rd General Assembly

Short Description:  MORTGAGE ACT-RELEASE-PENALTY

House Sponsors
Rep. Daniel J. Burke

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
765 ILCS 905/4from Ch. 95, par. 54


Synopsis As Introduced
Amends the Mortgage Act. Raises the penalty for failure to release property that was secured by a mortgage within one month of the payment of the debt to $500 (from $200). Provides for a $2,000 penalty against a mortgagee or trustee for the failure to release property that was secured by a mortgage within one month of the payment of the debt and for which the mortgagee or trustee charged or collected a fee for recording the release. Effective immediately.

Actions 
DateChamber Action
  2/27/2003HouseFiled with the Clerk by Rep. Daniel J. Burke
  2/27/2003HouseFirst Reading
  2/27/2003HouseReferred to Rules Committee
  2/28/2003HouseAssigned to Financial Institutions Committee
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2005HouseSession Sine Die

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