SB 30 (BR 91) - T. Buford, D. Mongiardo
AN ACT relating to settlement agents.
Create a new section of KRS Chapter 382 to require settlement agents to be solely responsible for disbursement of all funds deposited with the agents in connection with an escrow, settlement, closing, or earnest money deposit; state that funds shall be applied only in accordance with the terms of the individual instructions or agreements under which the funds were accepted; define "settlement agent" to mean a person who provides escrow, closing, earnest money deposit, or settlement services in connection with a transaction related to real estate in the Commonwealth and who is listed as the settlement agent on the settlement statement for the transaction.
Jan 7-introduced in Senate
Jan 9-to Banking and Insurance (S)