CHAPTER NUMBER: 267
File Code: Business Regulation and Occupations
- Sponsored By:
-
Senator Dyson
- Entitled:
-
Real Estate Brokers - Trust Money - Distribution and Liability
Requiring a real estate broker to maintain trust money in a specified
account until specified actions occur including the failure of the
owner or beneficial owner of trust money to complete the real estate
transaction for which the trust money was entrusted and the real
estate broker, in the broker's sole discretion, decides to distribute
the trust money according to provisions of law; and prohibiting a real
estate broker from being held civilly liable to the owner or
beneficial owner of trust money for specified decisions.
Senate Action
- 2/4
- First Reading Education Health and Environmental Affairs
- 2/18
- Hearing 3/4 at 1:00 p.m.
- 3/10
- Favorable with Amendments Report by Education Health and Environmental Affairs
- 3/12
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 3/16
- Third Reading Passed (47-0)
- 4/9
- Returned Passed
- 5/11
- Signed by the Governor Chapter 267
House Action
- 3/16
- First Reading Economic Matters
- 3/24
- Hearing 3/30 at 1:00 p.m.
- 4/9
- Favorable Report by Economic Matters
- 4/5
- Favorable Report Adopted
- Second Reading Passed
- 4/6
- Third Reading Passed (137-0)
- Bill indexed under the following Subjects:
- AGENTS AND BROKERS
- ESCROW ACCOUNTS
- LIABILITY -see also- GOOD SAMARITAN
- 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:
- Senate
- Number: 204739/01 (PDF) Offered on: March 12, 2004 at:
11:48 a.m. Status: Adopted
- Roll Call Votes (Legislative dates are shown):
- Senate
- March 16, 2004: Third Reading Passed (47-0)
- House
- April 6, 2004: Third Reading Passed (137-0)
