AN ACT TO PROVIDE INCREASED DISCLOSURE OF MORTGAGE INFORMATION AND TIMELY APPROVAL OF APPLICATIONS.
Whereas, The deferred operation of this act would
tend to defeat its purpose, which is to
immediately provide that the act providing for increased disclosure of
mortgage information and timely approval of applications shall take effect
on June first, nineteen hundred and eighty-eight,
therefore it is hereby declared to be an emergency law,
necessary for the immediate preservation of the
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Chapter 728 of the acts of 1987 is hereby amended by adding the following section:-
Section 2. The provisions of this act authorizing the commissioner
of banks to promulgate rules and regulations, forms or notices shall take
effect upon its passage; provided, however, that all other provisions shall
take effect on June first, nineteen hundred and eighty-eight.