90th General Assembly
Summary of SB1680
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Senate Sponsors:
PARKER.

Short description: 
MORTGAGE NO PREPAYMENT PENALTY                                             

Synopsis of Bill as introduced:
        Amends the Interest Act.   Prohibits  prepayment  penalties  with      
   respect  to mortgage loans and agreements for the installment purchase      
   of  residential  real  estate.   Currently  prepayment  penalties  are      
   prohibited only if the interest rate exceeds 8% per  year.   Effective      
   immediately.                                                                
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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