HB1608

Find a 2018 Bill:

2018 Regular Session

 

Entitled:

Real Property - Trust Money - Escrow Trust Accounts

Sponsored by:

Delegate Morgan

Status:

In the House - Unfavorable Report by Environment and Transportation


Synopsis:Requiring an escrow agent to deposit trust money into an escrow trust account within a certain period of time; requiring that an escrow trust account be kept only for trust money and be kept separately from an escrow agent's other accounts; prohibiting an escrow agent from using trust money for any purpose other than that for which it is entrusted to the escrow agent; requiring that an escrow trust account be maintained at a financial institution insured by a certain entity; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Delegates Morgan, Holmes, Clark, Frush, Rey, and Wilson
Additional Facts:Bill File Type: Regular
Effective Date(s): October 1, 2018
Committee(s):
Environment and Transportation  View Committee Hearing
Broad Subject(s):Real Property
Narrow Subject(s):Agents and Brokers
Attorney General
Beneficiaries -see also- Estates and Trusts
Contracts -see also- Land Installment Contracts; Procurement
Electronic Communication -see also- Comm; Elec.Gov; Lang; Te
Escrow Accounts
Estates and Trusts -see also- Beneficiaries
Financial Institutions -see also- Banks; Credit Unions; etc.
Notices
Penalties and Sentences -see also- Death Penalty
Postal Service
Real Estate -see also- Agents and Brokers
Real Property
Records -see also- Land Records; Vital Records
Telecommunications and Information Technology
Time
Statutes:Article - Real Property
(10-801 through 10-806, 10-801)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


March 7, 2018 12:41 P.M.