Assembly
Record of Committee Proceedings
Committee on Financial Institutions
Assembly Bill 243
Relating to: priority of future advances under mortgages.
By Representatives Ward, Hoven, Kaufert, Albers, M. Lehman, Ziegelbauer, Ainsworth, Kelso, Ladwig, Hahn, Hanson, La Fave, Olsen, Sykora, Goetsch, Dobyns, Huber, Grothman, Brandemuehl and Powers; cosponsored by Senators Plache, Wineke, Rude, Welch and Moore.
April 3, 1997 Referred to committee on Financial Institutions.
May 7, 1997
PUBLIC HEARING HELD
Present: (13) Representatives Ward, Green, Lazich, Foti, Kedzie, Schafer, Sykora, R. Potter, La Fave, Meyer, Morris-Tatum, Murat and Plale.
Absent: (2) Representatives Hoven and Travis.
· Michael R. Vaughan, Wisconsin Bankers Association
· Tom Hauke, WI League of Financial Institutions
· O.K. Johnson, WI State Bar - Construction Lien Law Committee
· None.
· None.
· Secretary Richard Dean, Dept. of Financial Institutions
· Daryll Lund, Community Bankers of Wisconsin
· Timothy Elverman, Bank One Wisconsin
· James E. Hough, WI Mortgage Bankers Association
· Amy Steinmetz, WI Mortgage Bankers Association
· John C. Yingling, Firstar Corporation
· None.
May 21, 1997
EXECUTIVE SESSION
Present: (15) Representatives Ward, Hoven, Green, Lazich, Foti, Kedzie, Schafer, Sykora, R. Potter, Travis, La Fave, Meyer, Morris-Tatum, Murat and Plale.
Absent: (0) None.
Moved by Representative Green, seconded by Representative Meyer, that
Assembly Amendment 1
be recommended for introduction.
Ayes: (15) Representative Ward, Hoven, Green, Lazich, Foti, Kedzie, Schafer, Sykora, R. Potter, Travis, La Fave, Meyer, Morris-Tatum, Murat and Plale.
Noes: (0) None.
Absent: (0) None.
INTRODUCTION RECOMMENDED, Ayes 15, Noes 0, Absent 0
Moved by Representative Green, seconded by Representative Meyer, that
Assembly Amendment 1
be recommended for adoption.
Ayes: (15) Representative Ward, Hoven, Green, Lazich, Foti, Kedzie, Schafer, Sykora, R. Potter, Travis, La Fave, Meyer, Morris-Tatum, Murat and Plale.
Noes: (0) None.
Absent: (0) None.
ADOPTION RECOMMENDED, Ayes 15, Noes 0, Absent 0
Moved by Representative Green, seconded by Representative Murat, that
Assembly Bill 243
be recommended for passage as amended.
Ayes: (15) Representatives Ward, Hoven, Green, Lazich, Foti, Kedzie, Schafer, Sykora, R. Potter, Travis, La Fave, Meyer, Morris-Tatum, Murat and Plale.
Noes: (0) None.
Absent: (0) None.
PASSAGE AS AMENDED RECOMMENDED, Ayes 15, Noes 0, Absent 0
Aaron Moede
Committee Clerk