Text: SSB00999 Text: SSB01001 Text: SSB01000 - SSB01099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. FORECLOSURE AND FORFEITURE MORATORIUM. In all
1 2 actions for the foreclosure of real estate mortgages or deeds
1 3 of trust of real estate under chapter 654, and the forfeiture
1 4 of contracts for the purchase of real estate as provided for
1 5 in chapter 656, an owner of real estate may apply for a
1 6 moratorium in the manner provided by a declaration which shall
1 7 be made by the governor pursuant to section 654.15, subsection
1 8 2. The moratorium shall at least apply to real estate used
1 9 for farming and small business as provided for in section
1 10 654.15, subsection 2.
1 11 Sec. 2. APPLICABILITY AND EFFECTIVE DATES.
1 12 1. The moratorium provided for in this Act is effective
1 13 until March 31, 2000.
1 14 2. This Act, being deemed of immediate importance, takes
1 15 effect upon enactment.
1 16 EXPLANATION
1 17 Code chapter 654 provides that the governor may declare a
1 18 state of economic emergency. In actions for the foreclosure
1 19 of real estate mortgages or deeds of trust of real estate or
1 20 the forfeiture of contracts for the purchase of real estate,
1 21 an owner of real estate may apply for a moratorium as provided
1 22 in the declaration. This bill provides that the owner of real
1 23 estate may apply for a moratorium as provided by a declaration
1 24 made by the governor under that section. The bill provides
1 25 that the moratorium must at least apply to real estate used
1 26 for farming and small business. The moratorium is in effect
1 27 until March 31, 2000. The bill takes effect upon enactment.
1 28 LSB 1496SC 78
1 29 da/gg/8
Text: SSB00999 Text: SSB01001 Text: SSB01000 - SSB01099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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