2009 Senate Bill 381 / Public Act 14

Impose new registration requirements on consumer financial service companies

Introduced in the Senate

March 12, 2009

Introduced by Sen. Bill Hardiman (R-29)

To require loan officers of consumer financial service companies that provide mortgages to register with the state as mortgage loan officers.

Referred to the Committee on Banking and Financial Institutions

March 19, 2009

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

Passed in the Senate 37 to 0 (details)

Received in the House

March 19, 2009

Referred to the Committee on Banking and Financial Services

March 26, 2009

Reported without amendment

Without amendment and with the recommendation that the bill pass.

March 31, 2009

Passed in the House 109 to 1 (details)

To require loan officers of consumer financial service companies that provide mortgages to register with the state as mortgage loan officers.

Signed by Gov. Jennifer Granholm

April 9, 2009