PRINTER'S NO. 1129
No. 1013 Session of 1995
INTRODUCED BY LEVDANSKY, OLASZ, STABACK, GIGLIOTTI, TIGUE,
DALEY, ITKIN, CAWLEY, LUCYK, COLAIZZO, WALKO, READSHAW,
HALUSKA, KUKOVICH, TRELLO, BELARDI, MIHALICH, BELFANTI,
McCALL, PETTIT, VAN HORNE, PRESTON AND DeLUCA, MARCH 6, 1995
REFERRED TO COMMITTEE ON COMMERCE AND ECONOMIC DEVELOPMENT,
MARCH 6, 1995
AN ACT
1 Requiring lending companies to inform home mortgage applicants
2 of mine subsidence insurance.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. Duty of lending institutions.
6 (a) Notification about mine subsidence insurance.--Lending
7 institutions shall inform home mortgage applicants of the
8 availability of mine subsidence insurance. Applicants shall be
9 informed that the Department of Environmental Resources makes
10 such insurance available under the act of April 27, 1966 (1st
11 Sp.Sess., P.L.31, No.1), known as The Bituminous Mine Subsidence
12 and Land Conservation Act.
13 (b) Availability of application forms.--As far as
14 practicable, lending institutions shall make application forms
15 for mine subsidence insurance available to home mortgage
16 applicants. When this form is distributed to an applicant, it
1 shall be accompanied by application instructions and the address
2 where it should be sent.
3 Section 2. Effective date.
4 This act shall take effect in 60 days.
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