DE HB371 | 2009-2010 | 145th General Assembly
Status
Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: Passed on July 27 2010 - 100% progression
Action: 2010-07-27 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: Passed on July 27 2010 - 100% progression
Action: 2010-07-27 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Summary
Delaware law currently does not allow the parties in commercial loan situations to agree to require insurance policies be given to lenders as evidence of insurance on the collateral, thus inhibiting the freedom of contract. The purpose of this change is to allow parties to have such an arrangement be an enforceable contract. This change does not affect residential owners, who were the intended beneficiaries of the law.
Title
An Act To Amend Title 25 Of The Delaware Code Relating To Freedom Of Contract.
Sponsors
| Rep. William Carson [D] | Sen. Anthony DeLuca [D] | Sen. Michael Katz [D] | Rep. Thomas Kovach [R] |
| Rep. John Mitchell [D] | Rep. Bryon Short [D] | Rep. D.E. Williams [D] |
Roll Calls
2010-06-30 - Senate - Senate Third Reading (Y: 20 N: 0 NV: 0 Abs: 1) [PASS]
2010-06-01 - House - House Third Reading (Y: 41 N: 0 NV: 0 Abs: 0) [PASS]
2010-06-01 - House - House Third Reading (Y: 41 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2010-07-27 | Signed by Governor | |
| 2010-06-30 | Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT | |
| 2010-06-16 | Reported Out of Committee (BANKING) in Senate with 5 On Its Merits | |
| 2010-06-08 | Assigned to Banking Committee in Senate | |
| 2010-06-01 | Passed by House of Representatives. Votes: Passed 41 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT | |
| 2010-04-28 | Reported Out of Committee (ECONOMIC DEVELOPMENT/BANKING/INSURANCE/COMMERCE) in House with 9 Favorable | |
| 2010-04-21 | Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House |
