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Enrolled Committee Substitute House Bill 3082 History

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HB3082 ENR SUB
ENROLLED

COMMITTEE SUBSTITUTE

FOR

H. B. 3082

(By Delegates Moore, Webster, Shook, Caputo,

Barker, Fleischauer, Fragale, Miley,

Marshall and Perry)


[Passed April 8, 2009; in effect ninety days from passage.]


AN ACT to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §31A-2-4c; to amend said code by adding thereto a new section, designated §38-1-8a; to amend said code by adding thereto a new section, designated §44-13-4a; and to amend and reenact §59-1-10 of said code, all relating to the gathering and reporting of foreclosure data and statistics; providing for the gathering and reporting of information pertaining to sales of residential real estate pursuant to deeds of trust; providing for the compilation and filing of data by trustees with the report of sales filed with the county clerks; providing for the periodic forwarding of gathered information to the Commissioner of Banking; identifying the minimum information to be provided; providing for fees to be paid for receipt and processing of the filed information; providing for the reporting of foreclosure statistics by the Commissioner of Banking; authorizing the Commissioner of Banking to establish appropriate forms and filing requirements and procedures by rule.

Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §31A-2-4c; that said code be amended by adding thereto a new section, designated §38-1-8a; that said code be amended by adding thereto a new section, designated §44-13-4a; and that §59-1-10 of said code be amended and reenacted, all to read as follows:
CHAPTER 31A. BANKS AND BANKING

ARTICLE 2. DIVISION OF BANKING
§31A-2-4c. County Clerk to file reports of trustees regarding sales of residential real property pursuant to deeds of trust and forward to the banking commissioner.
(a) In addition to the jurisdiction, powers, and duties set out in section four of this article, the banking commissioner is vested with the jurisdiction, powers and duties to receive and compile the data into an electronic data base and make available the raw data that is required to be reported by trustees to county clerks pursuant to chapter thirty-eight, article one, section eight-a of the Code of West Virginia. The commissioner has the power to promulgate rules in accordance with this section and the provisions of article three, chapter twenty-nine-a of this code in order to carry out the requirements of this section. The commissioner is authorized to expend funds for this purpose.
CHAPTER 38. LIENS

ARTICLE 1. VENDOR'S AND TRUST DEED LIENS

§38-1-8a Reports by Trustee to County Clerk; additional information to be filed with report of sale.
(a) This section applies to deeds of trust if the property conveyed therein includes real property that is occupied, or is intended to be occupied as a residence by the grantor at time the deed of trust is executed and delivered.
(b) Beginning July 1, 2009, when a report of the sale of the property sold pursuant to a deed of trust is placed of record by the trustee with the clerk of the county commission as provided in section eight of this article, the trustee shall include the following information on a disclosure form submitted with and made a part of the report of sale:
(1) Name or names of the grantor of the deed of trust;
(2) Street address, city, state and zip code of real property subject to the trust;
(3) Original trustee name;
(4) Substitute trustee name, if any, and date of appointment;
(5) The address, telephone number and electronic contact information for the trustee making the sale;
(6) Date, time and place advertised for sale;
(7) Name of original secured lender;
(8) Current holder of deed of trust, and the current holder's address;
(9) Original principal amount of the secured debt;
(10) Original interest rate;
(11) Whether the loan was adjustable and if so current rate;
(12) Total secured indebtedness at time of sale;
(13) The number of months the loan is delinquent at time of notice of sale; and
(14) The date, time and place of sale;
(15) The name of the purchaser;
(16) The appraised value at the time of loan, if available;
(17) The net amount applied to the secured loan;
(18) The date the report of sale is recorded and,
(19) Any other information the banking commissioner may require by rule.
(c) The commissioner of banking shall publish a form setting out the information required by subsection (b) and instructions as to how this information is to be filed with the report of sale.
(d) Notwithstanding any other provision of this code, nothing in this section shall be deemed to create a responsibility by the commissioner of banking to provide any report other than the compiled raw data submitted from each county clerk or to verify the accuracy of the data submitted.
(e) Failure to comply with this the provisions of this section shall not affect the validity of the sale or the title to the property sold by the trustee.
CHAPTER 44. ADMINISTRATION OF ESTATES AND TRUSTS.

ARTICLE 13. POWERS AND DUTIES OF CLERKS OF COUNTY COURTS IN COUNTIES HAVING SEPARATE TRIBUNAL FOR POLICE AND FISCAL PURPOSES.

§44-13-4a. Reporting of foreclosure statistics.
(a) Beginning with the third quarter of 2009, the clerk of each county commission shall file quarterly with the Division of Banking the disclosure forms of deed of trust foreclosure sales that were recorded in that county for the preceding calendar year quarter. The reports shall be filed within fifteen days of the last day of September, December, March and June of each year. The reports shall be filed in electronic format, where possible.
(b) Notwithstanding any other provision of this code, nothing in this section shall be deemed to create a responsibility on the division of banking to provide any report other than the complied raw data submitted from each county clerk or to verify the accuracy of the data submitted.
CHAPTER 59. FEES, ALLOWANCES AND COSTS; NEWSPAPERS; LEGAL ADVERTISEMENTS.

ARTICLE 1. FEES AND ALLOWANCES.
§ 59-1-10. Fees to be charged by clerk of county commission
For the purpose of this section, the word "page" is defined as being a paper or electronic writing of not more than legal size, 8 ½"' x 14"'.
The clerk of the county commission shall charge and collect the following fees:
(a) When a writing is admitted to record, for receiving proof of acknowledgment thereof, entering an order in connection therewith, endorsing clerk's certificate of recordation thereon and indexing in a proper index, where the writing is a:
(1) Deed of conveyance (with or without a plat), trust deed, fixture filing or security agreement concerning real estate lease, fifteen dollars.
(2) Trustee's report of sale for any property for which additional information and filing requirements are required by section eight-a, article 1, chapter thirty-eight of this code, $40, provided that $20 dollars of each recording fee received pursuant to this subdivision shall be deposited into the county's general revenue fund and $20 dollars of each of the aforesaid recording fees shall be paid by the county clerk to the State Treasurer quarterly and deposited in the banking commissioner's fund to cover its expenses in aggregating, collecting and publishing the data.
(3) Financing, continuation, termination or other statement or writing permitted to be filed under chapter forty-six of this code, ten dollars.
(4) Plat or map (with no deed of conveyance), $10 dollars.
(5) Service discharge record, no charge.
(6) Any document or writing other than those referenced in subdivisions (1), (2), (3), (4) and (5) of this subsection, $10.
(7) If any document or writing contains more than five pages, for each additional page, one dollar.
For any of the documents admitted to record pursuant to this subsection, if the clerk of the county commission has the technology available to receive these documents in electronic form or other media, the clerk shall set a reasonable fee to record these writings not to exceed the cost for filing paper documents.
(8) $11 dollars of each recording fee received pursuant to subdivision (1) of this subsection shall be retained by the county clerk for the operation of that office and $4 of each of the aforesaid recording fees together with $5 of the recording fee collected pursuant to subdivision (5) of this section, shall be paid by the county clerk into the State Treasurer and deposited in equal amounts for deposit into the Farmland Protection Fund created in article twelve, chapter eight-a of this code for the benefit of the West Virginia Agricultural Land Protection Authority and into the Outdoor Heritage Conservation Fund created in article two-g, chapter five-b of this code: Provided, That the funds deposited pursuant to this subdivision may only be used for costs, excluding personnel costs, associated with purpose of land conservation, as defined in subsection (f), section seven, article two-g, chapter five-b of this code.
(b) For administering any oath other than oaths by officers and employees of the state, political subdivisions of the state or a public or quasi-public entity of the state or a political subdivision of the state, taken in his or her official capacity, $5.
(c) For issuance of marriage license and other duties pertaining to the marriage license (including preparation of the application, administrating the oath, registering and recording the license, mailing acknowledgment of minister's return to one of the licensees and notification to a licensee after sixty days of the nonreceipt of the minister's return), $35.
(1) $1 of the marriage license fee received pursuant to this subsection shall be paid by the county clerk into the State Treasury as a state registration fee in the same manner that license taxes are paid into the Treasury under article twelve, chapter eleven of this code;
(2) $15 of the marriage license fee received pursuant to this subsection shall be paid by the county clerk into the State Treasury for the Family Protection Shelter Support act in the same manner that license taxes are paid into the Treasury under article twelve, chapter eleven of this code;
(3) $10 of the marriage license fee received pursuant to this subsection shall be deposited in the Courthouse Facilities Improvement Fund created by section six, article twenty-six, chapter twenty-nine of this code.
(d)(1) For a copy of any writing or document, if it is not otherwise provided for, one dollar fifty cents.
(2) If the copy of the writing or document contains more than two pages, for each additional page, $1.
(3) For annexing the seal of the commission or clerk to any paper, one dollar.
(4) For a certified copy of a birth certificate, death certificate or marriage license, $5.
(e) For copies of any record in electronic form or a medium other than paper, a reasonable fee set by the clerk of the county commission not to exceed the costs associated with document search and duplication.

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