SB 1366: RELATING TO INTEREST ON INSURANCE PROCEEDS RELATED TO A MORTGAGE LOAN.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Requires licensed mortgage servicers and financial institutions to pay interest on insurance proceeds held for the benefit of consumers. Provides that a fee shall not be charged to the borrower in connection with the maintenance or disbursement of interest earned from interest-bearing accounts. Effective 7/1/2050. (SD1)

Sponsors

Sponsors by party (alphabetical): Democratic 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 6, 2025Pass First Reading
2. March 6, 2025Referred to CPC, FIN, referral sheet 19
3. March 4, 2025Passed Third Reading, as amended (SD 1). Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House.
4. March 4, 2025Received from Senate (Sen. Com. No. 313) in amended form (SD 1).
5. February 27, 2025Reported from CPN (Stand. Com. Rep. No. 793) with recommendation of passage on Second Reading, as amended (SD 1) and placement on the calendar for Third Reading.
6. February 27, 2025Report adopted; Passed Second Reading, as amended (SD 1).
7. February 27, 202548 Hrs. Notice 03-04-25.
8. February 14, 2025The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 5 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey, Richards, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
9. February 10, 2025The committee(s) on CPN has scheduled a public hearing on 02-14-25 9:30AM; Conference Room 229 & Videoconference.
10. January 27, 2025Referred to CPN.
11. January 23, 2025Introduced and passed First Reading.
12. January 21, 2025Pending Introduction.