Mortgage satisfaction; provisions. (SB433)

Introduced By

Sen. Jeannemarie Devolites Davis (R-Vienna)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Mortgage satisfaction. Imports into the Virginia Code provisions of the Uniform Residential Mortgage Satisfaction Act relating to definitions, notifications, rescinding erroneously recorded certificates of satisfaction, requirements on secured creditors, and the form and effect of satisfaction. Current Code provisions relating to payoff statements, mortgage satisfaction via settlement agents and court proceedings, and penalties for errors or omissions in satisfaction procedures are retained. The Virginia Information Technologies Agency ("VITA") is required to submit a project budget to the Compensation Board and the Compensation Board is authorized to pay VITA for services provided. The bill was passed by the 2005 Session, but was required to be reenacted. Read the Bill »


04/19/2006: enacted


01/11/2006Prefiled and ordered printed; offered 01/11/06 063033726
01/11/2006Referred to Committee on Commerce and Labor
01/23/2006Rereferred from Commerce and Labor (15-Y 0-N)
01/23/2006Rereferred to Courts of Justice
02/01/2006Reported from Courts of Justice with substitute (12-Y 0-N)
02/01/2006Rereferred to Finance
02/02/2006Committee substitute printed 066724726-S1
02/08/2006Reported from Finance with amendment (15-Y 0-N)
02/09/2006Constitutional reading dispensed (39-Y 0-N)
02/09/2006VOTE: (39-Y 0-N)
02/10/2006Read second time
02/10/2006Reading of substitute waived
02/10/2006Committee substitute agreed to 066724726-S1
02/10/2006Reading of amendment waived
02/10/2006Committee amendment agreed to
02/10/2006Engrossed by Senate - committee substitute with amendment SB433ES1
02/10/2006Printed as engrossed 066724726-ES1
02/13/2006Read third time and passed Senate (40-Y 0-N)
02/13/2006VOTE: (40-Y 0-N)
02/13/2006Communicated to House
02/14/2006Placed on Calendar
02/14/2006Read first time
02/14/2006Referred to Committee for Courts of Justice
02/16/2006Assigned Courts sub: Civil Law
03/03/2006Reported from Courts of Justice with substitute (22-Y 0-N)
03/06/2006Committee substitute printed 066724726-H1
03/07/2006Read second time
03/08/2006Read third time
03/08/2006Committee substitute agreed to 066724726-H1
03/08/2006Amendment by Delegate Hogan agreed to
03/08/2006Engrossed by House - committee substitute with amendment SB433H1
03/08/2006Passed House with substitute with amendment (89-Y 0-N)
03/08/2006VOTE: PASSAGE (89-Y 0-N)
03/09/2006House substitute with amendment agreed to by Senate (38-Y 0-N)
03/09/2006VOTE: (38-Y 0-N)
03/15/2006Bill text as passed Senate and House (SB433ER)
03/15/2006Signed by Speaker
03/16/2006Signed by President
04/11/2006Governor's recommendation received by Senate
04/18/2006Placed on Calendar
04/19/2006Senate concurred in Governor's recommendation (38-Y 0-N)
04/19/2006VOTE: (38-Y 0-N)
04/19/2006House concurred in Governor's recommendation (95-Y 0-N)
04/19/2006VOTE: ADOPTION (95-Y 0-N)
04/19/2006G Governor's recommendation adopted
04/19/2006Signed by President as reenrolled
04/19/2006Signed by Speaker as reenrolled
04/19/2006Enacted, Chapter 907 (effective 7/1/06)
04/19/2006Reenrolled bill text (SB433ER2)
04/19/2006G Acts of Assembly Chapter text (CHAP0907)