Bill Status of HB 4394   95th General Assembly

Short Description:  REAL ESTATE LIC-ESCROW MONEYS

House Sponsors
Rep. LaShawn K. Ford

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
225 ILCS 454/20-20

Synopsis As Introduced
Amends the Real Estate License Act of 2000. Provides that, prior to the consummation or termination of a transaction, escrow moneys shall be deemed abandoned and transferred to the Office of the State Treasurer to be handled as unclaimed property pursuant to the Uniform Disposition of Unclaimed Property Act only: (i) in the absence of disbursement under certain conditions; (ii) in the absence of notice of the filing of any claim in a court of competent jurisdiction; and (iii) if 6 months have elapsed after the receipt of a written demand for the escrow moneys from one of the principals to the transaction or the principal's duly authorized agent.

Actions 
DateChamber Action
  1/10/2008HouseFiled with the Clerk by Rep. LaShawn K. Ford
  1/11/2008HouseFirst Reading
  1/11/2008HouseReferred to Rules Committee
  4/14/2008HouseFinal Action Deadline Extended-9(b) April 18, 2008
  4/14/2008HouseAssigned to Registration and Regulation Committee
  4/18/2008HouseFinal Action Deadline Extended-9(b) May 9, 2008
  5/9/2008HouseFinal Action Deadline Extended-9(b) May 23, 2008
  5/23/2008HouseFinal Action Deadline Extended-9(b) May 31, 2008
  5/31/2008HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009HouseSession Sine Die

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