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WV HB4492

Bill

Official Source

Status

Introduced

1/19/2026

Primary Sponsor

Patrick Lucas

Click for details

Origin

House of Delegates

2026 Regular Session

AI Summary

  • Increases the maximum amount of personal funds a licensed real estate broker may deposit into a trust fund account from $100 to $500 to maintain a minimum balance
  • Amends §30-40-18 of the West Virginia Code relating to trust fund accounts under the Real Estate License Act
  • Introduced January 19, 2026, by Delegates Lucas, Crouse, Worrell, Kyle, and Shamblin and referred to the Committee on Government Organization
  • Trust fund accounts hold client funds including earnest money deposits, security deposits, rental receipts, and auction proceeds
  • Brokers remain prohibited from commingling personal funds with trust funds beyond the permitted minimum balance amount

Legislative Description

Limiting broker deposits to $500

Professions and Occupations

Last Action

To House Government Adminstration

1/20/2026

Committee Referrals

Government Administration1/20/2026
Government Organization1/19/2026

Full Bill Text

No bill text available