HB 149, 54th R.S.
Relating to providing that persons, firms, corporations, or associations serving as mortgagees and collecting taxes, insurance premiums, or service deposits to be used in payment of taxes or insurance premiums in advance from mortgagors pay mortgagors interest on such advance collections to be computed at a rate of four (4) per cent per annum; providing for a method of determining period of time for which interest is due mortgagor and providing for time of payment; providing for liability of mortgagor for damages to be computed at five (5) times amount of interest due.
Author: Gilbert M. Spring
Subjects:
ESCROW
Insurance--Property & Casualty
Property Interests--Mortgages & Liens
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