SB 1009 Modifies the current legal requirement that funds conveyed to settlement agents in real estate closings be certified funds

Sponsor: Loudon LR Number: 4647S.04T Fiscal Note: 4647-04 Committee: Financial & Governmental Organizations and Elections Last Action: 6/10/2008 - Signed by Governor Journal Page: Title: SCS SB 1009 Calendar Position: Effective Date: Emergency Clause House Handler: Wasson

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Current Bill Summary

SCS/SB 1009 - This act modifies the law with respect to the requirement that funds accepted by a settlement agent be certified funds. Under this act, the certified funds requirement shall only apply when a settlement agent accepts funds greater than $2,500 in a real estate transaction.

This act has an emergency clause.

STEPHEN WITTE