Loading chat...

AZ HB2297

Bill

Status

Passed

4/12/2011

Primary Sponsor

John McComish

Click for details

Origin

House of Representatives

Fiftieth Legislature - First Regular Session (2011)

AI Summary

  • Amends section 6-122 to remove the requirement that the superintendent conduct biannual surveys of escrow agents and compile survey results for public availability.

  • Modifies section 6-841.02 to require title insurers to offer closing protection letters on request (rather than discretionary offer) and to establish that title insurers must be licensed under chapter 6 to trigger reimbursement obligations.

  • Repeals Title 6, Chapter 7, Article 5 of Arizona Revised Statutes, eliminating the Arizona escrow recovery fund.

  • Transfers any remaining monies in the Arizona escrow recovery fund to the state general fund as of the bill's effective date.

Legislative Description

Escrow agents; recovery fund; repeal

Last Action

Governor Signed

4/12/2011

Full Bill Text

No bill text available