SB 109 – AS INTRODUCED

2011 SESSION

11-0989

05/01

SENATE BILL 109

AN ACT establishing a committee to study the foreclosure process in New Hampshire.

SPONSORS: Sen. Carson, Dist 14; Sen. Barnes, Jr., Dist 17; Rep. Griffin, Rock 4; Rep. Baldasaro, Rock 3; Rep. Headd, Rock 3

COMMITTEE: Commerce

ANALYSIS

This bill establishes a committee to study the foreclosure process in New Hampshire.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

11-0989

05/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Eleven

AN ACT establishing a committee to study the foreclosure process in New Hampshire.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Committee Established. There is established a committee to study the foreclosure process in New Hampshire.

2 Membership and Compensation.

I. The members of the committee shall be as follows:

(a) Two members of the senate, appointed by the president of the senate.

(b) Three members of the house of representatives, appointed by the speaker of the house of representatives.

II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

3 Duties. The committee shall examine the foreclosure process in New Hampshire. The study shall include a review of current law and practice, consideration of whether the state should adopt a judicial foreclosure process in lieu of the statutory power of sale under RSA 479, and whether additional means of consumer protection are warranted. The committee shall solicit information and testimony from individuals and entities with experience or expertise relevant to the study.

4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named senate member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Three members of the committee shall constitute a quorum.

5 Report. The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2011.

6 Effective Date. This act shall take effect upon its passage.