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CT HB05266

Bill

Official Source

Status

Introduced

2/20/2014

Primary Sponsor

Banks Committee

Click for details

Origin

House of Representatives

2014 General Assembly

AI Summary

  • Requires banks, out-of-state banks, Connecticut credit unions, federal credit unions, and out-of-state credit unions to treat certified checks as cash for real estate transactions in Connecticut
  • Allows real estate closings to proceed on the date a certified check is presented for payment without delay
  • Effective October 1, 2014
  • Purpose is to prevent unnecessary delays in real estate closings

Legislative Description

An Act Concerning The Treatment Of Certified Checks As Cash For Purposes Of Real Estate Closings.

Last Action

Public Hearing 02/25

2/21/2014

Committee Referrals

Banks2/20/2014

Full Bill Text

No bill text available