SB0583 (CH0306)

Find a 2014 Bill:

2014 Regular Session



Financial Institutions - Interest Payable on Escrow Accounts and Specific Purpose Savings Accounts

Sponsored by:

Senator Kelley


Approved by the Governor - Chapter 306

Synopsis:Altering the interest rate payable by specified lending institutions on escrow accounts created in connection with loans secured by a first mortgage or first deed of trust on residential real property; altering the interest rate payable by specified banking institutions on interest bearing accounts instituted for a specific purpose; and applying the Act retroactively to escrow accounts and savings accounts in existence on or after January 1, 2014.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Kelley and Middleton
Additional Facts:Cross-filed with: HB0735
Bill File Type: Regular
Effective Date(s): June 1, 2014
Finance   View Committee HearingEconomic Matters
Broad Subject(s):Financial Institutions
Commercial Law - Credit Regulation
Narrow Subject(s):Banks and Trust Companies
Escrow Accounts
Financial Institutions -see also- Banks; Credit Unions; etc.
Loans -see also- Mortgages
Savings and Loan Associations

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Explanation of Floor Motions and Actions

October 24, 2017 1:56 P.M.