Amendment No. am_136_0456-2

S. B. No. 135

As Introduced

__________________________ moved to amend as follows:

In line 91, delete "affiliated with or employed by either" and insert "controlled by, or under common control with, any"

In line 93, delete "A" and insert "The"; after "servicer" insert "of the property being auctioned"

In line 94, after "servicer" insert "of the property being auctioned;

(c) A law firm providing legal services in relation to the property being auctioned"

In line 95, delete "As used in division (C)(1) of this section,"

Delete lines 96 through 99

In line 100, delete "(3)"

In line 146, after "by" insert "either"; after "sheriff" insert "or another private selling officer"

In line 150, after "sheriff" insert "or another private selling officer"

In line 253, strike through "may" and insert "shall"; strike through "any" and insert "all"

In line 265, strike through "Hire a title insurance agent licensed under Chapter"

Strike through lines 266 through 268

In line 269, strike through "(c)"

In line 271, strike through "(d)" and insert "(c)"

In line 275, after "(2)" insert "A private selling officer who conducts a sale under this section may hire a title insurance agent licensed under Chapter 3953. of the Revised Code or title insurance company authorized to do business under that chapter to assist the private selling officer in performing administrative services.

(3)"

In line 279, strike through "(3)" and insert "(4)"

In line 285, strike through "(E)(1)(b) and (3)" and insert "(E)(2) and (4)"

In line 580, strike through "a" and insert "the print or digital edition of a"

In line 751, delete "or any other provision of the"

In line 752, delete "Revised Code"

The motion was __________ agreed to.

SYNOPSIS

Private selling officers

R.C. 2329.151, 2329.152, and 2329.52

Specifies that the public auction of lands is not to be carried out by a private selling officer who is controlled by or under common control with specified interested parties, as opposed to being affiliated with or employed by those parties. Adds a law firm providing legal services in relation to the auction in question to the list of interested parties.

Allows, when a lienholder objects to a judicial or execution sale being conducted by a private selling officer and a court determines there is good and reasonable cause and orders the sale to be reset and republished, the property to be sold by either the county sheriff or another private selling officer.

Removes the authority, when a property fails to sell pursuant to a residential mortgage loan foreclosure action, for the property to be disposed of pursuant to any provision of the Revised Code and instead authorizes such properties to only be disposed of by either a subsequent auction or any other manner authorized in the Execution Against Property Law.

Requires, as opposed to authorizes, private selling officers to take certain actions when conducting a judicial or execution sale. Maintains the current law authority of a private selling officer, at the private selling officer's discretion, to hire a title company to assist in the sale.

Notice of sale

R.C. 2329.26

Specifies that the first notice of the sale of lands and tenements taken in execution may be in either the print or digital edition of a newspaper of general circulation in the county in which the property resides.