Chapter 636

2006 -- S 2231

Enacted 07/14/06

A N A C T

RELATING TO FINANCIAL INSTITUTIONS

Introduced By: Senators Walaska, and Bates

Date Introduced: January 31, 2006

It is enacted by the General Assembly as follows:

     SECTION 1. Chapter 19-9 of the General Laws entitled "Community Obligations and

Banking Offenses" is hereby amended by adding thereto the following section:

19-9-2.1. Mortgage billing -- Payment allocation. – All monthly billing by mortgagees

to mortgagors must show the allocation of the mortgagor's prior monthly payment to principal,

interest and escrow, if applicable.

     SECTION 2. This act shall take effect upon passage.

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LC01357

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