House Amendment 1190


PAG LIN




     1  1    Amend House File 706 as follows:
     1  2 #1.  Page 1, by striking lines 13 through 18 and
     1  3 inserting the following:
     1  4    <1.  Except as provided under chapter 29A, or the
     1  5 federal Servicemembers Civil Relief Act of 2003, 50
     1  6 U.S.C. app. 532 and 533, a creditor shall not initiate
     1  7 a proceeding to enforce an obligation payable under
     1  8 its terms in installments under a contract for the
     1  9 purchase of real estate, or secured by a mortgage or
     1 10 other instrument in the nature of a mortgage upon real
     1 11 estate, against a borrower, or a borrower's
     1 12 dependents, who is a member of the national guard or a
     1 13 member of the reserve or regular component of the
     1 14 armed forces of the United States in active duty
     1 15 service.  Enforcement of an obligation shall not be
     1 16 permitted under the following circumstances:>
     1 17 #2.  Page 1, line 20, by striking the words
     1 18 <entitled to> and inserting the following:  <has been
     1 19 afforded>.
     1 20 #3.  Page 1, by striking lines 22 through 24 and
     1 21 inserting the following:  <creditor who enforces an
     1 22 obligation in violation of chapter 29A, subchapter VI,
     1 23 is subject to applicable penalty>.
     1 24 #4.  Page 1, line 28, by striking the words
     1 25 <entitled to> and inserting the following:  <has been
     1 26 afforded>.
     1 27 #5.  Page 1, by striking lines 30 through 32 and
     1 28 inserting the following:  <533.  A creditor who
     1 29 enforces an obligation in violation of the federal Act
     1 30 is subject to applicable penalty>.
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     1 33                               
     1 34 GAYMAN of Scott
     1 35 HF 706.701 83
     1 36 rn/sc/22854
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