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ND HB1220
Bill
Status
Passed
3/13/2015
Primary Sponsor
George Keiser
Click for details
AI Summary
- Creates North Dakota Century Code section 47-34-02.1 to establish procedures for closing agents accepting cashier's checks for loan funds in real estate transactions
- Permits closing agents to accept cashier's checks for loan funds if delivered by a local issuing bank, savings and loan association, credit union, or savings bank located in the same county or a contiguous county as the closing agent
- Requires closing agents to deposit accepted cashier's checks in their escrow account with a local financial institution that provides immediate fund availability prior to disbursement
- Passed the House 90-0 with 4 absent and the Senate 46-0 with 1 absent
Legislative Description
The acceptance of funds by closing agents in real estate transactions.
Last Action
Signed by Governor 03/12
3/13/2015
Committee Referrals
Industry, Business, and Labor1/13/2015
Full Bill Text
No bill text available