2011 Regular Session

SENATE BILL 334

CHAPTER NUMBER: 450
File Code: Real Property Crossfiled with: HOUSE BILL 379
Sponsored By:
Senators Kelley and Frosh
Entitled:
Real Property - Deposits on New Homes - Escrow Accounts

Synopsis:

Clarifying the circumstances under which a vendor or builder of a new single-family residential unit is required to deposit money in an escrow account or obtain and maintain a surety bond or irrevocable letter of credit; authorizing the vendor or builder to make withdrawals from an escrow account that consists of sums received to finance the construction of a residential unit to pay for labor and materials; establishing that specified money shall be held in trust; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
Senate Action
2/2
First Reading Judicial Proceedings
Hearing 2/16 at 1:00 p.m.
3/14

Favorable with Amendments Report by Judicial Proceedings
3/15
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/17
Third Reading Passed (47-0)
4/4
Returned Passed
House Action
3/17
First Reading Environmental Matters
3/22
Hearing 3/31 at 1:00 p.m.
3/29
Hearing cancelled
Hearing 3/31 at 1:30 p.m.
4/6
Favorable Report by Environmental Matters
4/2
Favorable Report Adopted
Second Reading Passed
4/3
Third Reading Passed (136-0)
Action after passage in Senate and House
5/19
Approved by the Governor
- Chapter 450

Sponsored by:

Senator Delores G. Kelley, District 10
Senator Brian E. Frosh, District 16

Bill indexed under the following Subjects:

Banks and Trust Companies
Bonds -see also- County & Baltimore City Bonds; State Bonds.
Construction
Consumer Protection -see also- Unfair Trade Practices
Contractors -see also- Heating & Cooling; Home Improvement
Escrow Accounts
Housing -see also- Apartments; Condominiums; Mobile Homes
Liability -see also- Good Samaritan
Security Deposits

Bill affects the following Statutes:

Real Property
( 10-301 , 10-301.1 , 10-301.1 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled, Chapter
Fiscal and Policy Note: Available
Amendments:
Senate
Number: 658373/01     Offered on: March 15, 2011   at: 10:50 a.m.     Status: Adopted
Committee Votes :
Senate
Judicial Proceedings
House
Environmental Matters
Roll Call Votes (Legislative dates are shown):
Senate
March 17, 2011: Third Reading Passed (47-0)
House
April 3, 2011: Third Reading Passed (136-0)