PRINTER'S NO. 561
No. 510 Session of 1993
INTRODUCED BY REINARD, HECKLER, REBER, CAWLEY, MARSICO,
MICOZZIE, MELIO, M. N. WRIGHT, TRELLO, CLYMER, SEMMEL,
STABACK, WOGAN, COLAIZZO, BUNT AND LYNCH, MARCH 15, 1993
REFERRED TO COMMITTEE ON BUSINESS AND ECONOMIC DEVELOPMENT,
MARCH 15, 1993
AN ACT
1 Amending the act of December 22, 1989 (P.L.687, No.90), entitled
2 "An act providing for the regulation and licensing of
3 mortgage bankers and mortgage brokers; imposing additional
4 powers and duties on the Department of Banking and the State
5 Real Estate Commission; and providing penalties," further
6 regulating licensee requirements.
7 The General Assembly of the Commonwealth of Pennsylvania
8 hereby enacts as follows:
9 Section 1. Section 8(a) of the act of December 22, 1989
10 (P.L.687, No.90), known as the Mortgage Bankers and Brokers Act,
11 is amended by adding a paragraph to read:
12 Section 8. Licensee requirements.
13 (a) Requirements on licensee.--A licensee shall:
14 * * *
15 (9) Allow for the evidence of any insurance required in
16 connection with a loan by a policy or binder or a copy of
17 either.
18 * * *
19 Section 2. This act shall take effect in 60 days.
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