Amendment AA1-AB691

LRBa1700/1

KRP:ahe

2017 - 2018 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO ASSEMBLY BILL 691

January 8, 2018 - Offered by Representatives Katsma and Goyke.

AB691-AA1,1,1 At the locations indicated, amend the bill as follows:

AB691-AA1,1,2 1. Page 2, line 9: delete lines 9 to 11 and substitute:

AB691-AA1,1,4 “(c) “Third-party bidder” means a person that intends to submit a bid at a sale of mortgaged premises and that is not any of the following:

AB691-AA1,1,5 1. A party in the foreclosure action.

AB691-AA1,1,6 2. An agent of a party in the foreclosure action.

AB691-AA1,1,7 3. An assignee of the plaintiff in the foreclosure action.”.

AB691-AA1,1,8 2. Page 4, line 2: delete “shall" and substitute “may".

AB691-AA1,1,9 3. Page 4, line 3: delete “all" and substitute “any".

AB691-AA1,1,10 4. Page 4, line 19: delete “846.17" and substitute “846.16 (1) (a)".

AB691-AA1,1,12 5. Page 4, line 20: after “shall" insert “, no later than the time scheduled for confirmation of sale,".

AB691-AA1,2,1 6. Page 5, line 8: delete “846.17" and substitute “846.16 (1) (a)".

AB691-AA1,2,2 7. Page 5, line 17: delete “any" and substitute “all".

AB691-AA1,2,4 8. Page 5, line 19: delete lines 19 and 20 and substitute “delivered to the clerk of court under s. 846.16 (1) (b).”.

AB691-AA1,2,6 9. Page 6, line 9: delete the material beginning with that line and ending with page 7, line 8 and substitute:

AB691-AA1,2,7 “ Section 2m. 846.16 (1) (d) of the statutes is created to read:

AB691-AA1,2,13 846.16 (1) (d) In any public place or on any Internet site where the sheriff or referee posts a notice of sale, the sheriff or referee also shall post an explanation regarding the minimum bidder qualifications under s. 846.155 (2) that a participant in the sale must meet and a statement that, before the sale may be confirmed, a purchaser that is not a party in the foreclosure action must submit an affidavit to the court affirming that the purchaser meets those minimum bidder qualifications.” .

AB691-AA1,2,14 (End)