CHAPTER NUMBER: 42
File Code: Business Regulation and Occupations
- Sponsored By:
-
Chairman, Economic Matters Committee (Departmental - Labor,
Licensing and Regulation)
- Entitled:
-
Real Estate Transactions - Distribution of Trust Money
Allowing a real estate broker to release trust money when the real
estate transaction is not completed by the owner or beneficial owner
of the trust money; requiring that this statement be included in an
agreement under which a broker may distribute the trust money;
requiring the broker to notify specified parties before releasing
trust money; specifying the contents and method of delivery of the
notice; allowing a person receiving notice to protest the release; and
providing immunity for a broker acting in good faith.
House Action
- 10/26
- Pre-filed
- 1/10
- First Reading Economic Matters
- 1/11
- Hearing 1/18 at 1:00 p.m.
- 2/19
- Favorable with Amendments Report by Economic Matters
- 2/20
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 2/23
- Third Reading Passed (137-0)
- 3/25
- Returned Passed
- 4/10
- Signed by the Governor Chapter 42
Senate Action
- 2/26
- First Reading Economic and Environmental Affairs
- 3/7
- Hearing 3/20 at 1:00 p.m.
- 3/27
- Favorable Report by Economic and Environmental Affairs
- 3/28
- Favorable Report Adopted
- Second Reading Passed
- 3/29
- Third Reading Passed (45-0)
- Sponsored by:
- Chairman, Econ. Matters Comm.
- Departmental
- Bill indexed under the following Subjects:
- AGENTS AND BROKERS
- CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
- CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
- DISCLOSURE
- NOTICES
- REAL ESTATE -see also- AGENTS AND BROKERS
- Bill affects the following Statute:
- Business Occupations and Professions
- (
17-505
)
- Bill Text:
First Reading (PDF),
Third Reading (PDF), Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
- House
- Number: 293499/1 (PDF) Offered on: February 20, 2001 at:
10:17 a.m. Status: Adopted
- Roll Call Votes (Legislative dates are shown):
- House
- February 23, 2001: Third Reading Passed (137-0)
- Senate
- March 29, 2001: Third Reading Passed (45-0)