HOUSE OF REPRESENTATIVES

THE TWENTY-NINTH LEGISLATURE

REGULAR SESSION OF 2017

 

COMMITTEE ON INTRASTATE COMMERCE

Rep. Takashi Ohno, Chair

Rep. Isaac W. Choy, Vice Chair

 

Rep. Romy M. Cachola

Rep. James Kunane Tokioka

Rep. Ken Ito

Rep. Justin H. Woodson

Rep. Richard H.K. Onishi

Rep. Gene Ward

 

COMMITTEE ON CONSUMER PROTECTION & COMMERCE

Rep. Angus L.K. McKelvey, Chair

Rep. Linda Ichiyama, Vice Chair

 

Rep. Henry J.C. Aquino

Rep. Chris Todd

Rep. Ken Ito

Rep. Ryan I. Yamane

Rep. Calvin K.Y. Say

Rep. Beth Fukumoto

Rep. Gregg Takayama

 

 

NOTICE OF HEARING

 

DATE:

Monday, February 13, 2017

TIME:

2:30 p.m.

PLACE:

Conference Room 329

State Capitol

415 South Beretania Street

 

A G E N D A

 

HB 403

Status

RELATING TO SECURITY INTERESTS IN REAL PROPERTY.

Requires a mortgagee or record assignee to provide to a mortgagor or borrower, upon full satisfaction of the mortgage and discharge of the secured debt, a reassignment or release of security interests in leases and rents that served as additional security for the mortgage.  Authorizes title insurers or underwritten title companies to make demands on mortgagees and, in the absence of compliance, to reassign or release mortgagees' security interests in leases and rents on behalf of the mortgagee or record assignee, under certain conditions.  Authorizes certain entities to institute an action in any circuit court to obtain the release or reassignment instrument in the absence of compliance of a mortgagee or record assignee.

 

IAC/CPC, FIN

 

 

 

 

DECISION MAKING TO FOLLOW

 

Persons wishing to offer comments should submit testimony at least 24 hours prior to the hearing.  Testimony should indicate:

·     Testifier's name with position/title and organization;

·     The Committee(s) to which the comments are directed;

·     The date and time of the hearing; and

·     Measure number.

 

While every effort will be made to incorporate all testimony received, materials received on the day of the hearing or improperly identified or directed, may be distributed to the Committee after the hearing.

 

Submit testimony in ONE of the following ways:

PAPER:  3 copies (including an original) to Room 404 in the State Capitol;

FAX:       For testimony less than 5 pages in length, transmit to 808-586-8479 (Oahu) or 1-800-535-3859 (for Neighbor Islander without a computer to submit testimony through the website); or

WEB:     For testimony less than 10MB in size, transmit from http://www.capitol.hawaii.gov/submittestimony.aspx.

 

Testimony submitted will be placed on the legislative website.  This public posting of testimony on the website should be considered when including personal information in your testimony.

 

If you require special assistance or auxiliary aids and/or services to participate in the House public hearing process (i.e., sign or foreign language interpreter or wheelchair accessibility), please contact the Committee Clerk at 586-9415 or email your request for an interpreter to HouseInterpreter@Capitol.hawaii.gov at least 24 hours prior to the hearing for arrangements.  Prompt requests submitted help to ensure the availability of qualified individuals and appropriate accommodations.

 

Selected meetings are broadcast live.  Check the current legislative broadcast schedule on the "Capitol TV" website at www.capitoltv.org or call 536-2100.

 

 

________________________________________

Rep. Angus L.K. McKelvey

Chair

 

________________________________________

Rep. Takashi Ohno

Chair