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CO SB016
Bill
AI Summary
- Amends Colorado Revised Statutes 38-35-125 governing escrow disbursements in real estate closings
- Specifies that wire transfers must be made through funds-transfer services operated by the Federal Reserve or the Clearing House Payments Company to qualify as "available for immediate withdrawal"
- Adds real-time and instant payments through Federal Reserve or Clearing House Payments Company systems as an accepted fund transfer method
- Takes effect 90 days after final adjournment of the general assembly, subject to potential referendum
- Applies to real estate transactions occurring on or after the effective date
Legislative Description
Updating Escrow Disbursement Practices
Financial Services & Commerce
Last Action
Governor Signed
3/26/2025
Committee Referrals
Committee of the Whole3/10/2025
Finance2/6/2025
Committee of the Whole1/28/2025
Finance1/8/2025
Full Bill Text
No bill text available