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2009 - 2010 LEGISLATURE
SENATE AMENDMENT 1,
TO 2009 SENATE BILL 255
September 29, 2009 - Offered by Senator Erpenbach.
SB255-SA1,1,11 At the locations indicated, amend the bill as follows:
SB255-SA1,1,2 21. Page 12, line 4: after that line insert:
SB255-SA1,1,6 3"(9m) Exempt financial institutions. (a) In this subsection, "financial
4institution" means a bank, a savings bank, a saving and loan association, a trust
5company, or a credit union, whether chartered under the laws of this state, another
6state or territory, or under the laws of the United States.
SB255-SA1,1,87 (b) This section does not apply to a financial institution with a branch office in
8this state if one of the following applies:
SB255-SA1,1,119 1. The financial institution did not obtain more than 5 foreclosure judgments
10on residential real property within the 12-month period proceeding the
11commencement of an action to foreclose on a first or 2nd mortgage loan.
SB255-SA1,2,212 2. The number of foreclosure judgments on residential real property that the
13financial institution obtained within the 12-month period proceeding the

1commencement of an action to foreclose on a first or 2nd mortgage loan does not
2exceed 3 percent of the first or 2nd mortgage loans held by the financial institution.".
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