WA People
BILL · 2003–04 SESSION · LATEST VERSION SSB 5451

SB 5451: Escrow agents and officers

Regulating escrow agents and officers.

Summary

  • Requires an escrow agent to maintain a fidelity bond in the amount of $1 million.
  • Increases the licensing requirements applicable to escrow agents and officers.
  • Raises licensing fees beginning in fiscal year 2004.
  • Requires escrow agents to periodically report to the Department of Financial Institutions regarding the status of trust accounts.
  • Creates a new category of licensed escrow officer – the "senior escrow officer."

From the Substitute House Bill Analysis (SSB 5451), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House
  1. IntroducedJan 27, 2003
  2. Out of committeeFeb 21, 2003
  3. Passed SenateMar 19, 2003
  4. Passed Housestopped here
  5. Governor
  6. Law
Prime sponsor
Don Benton (R-17)
Introduced
January 27, 2003 in the Senate
Last action
March 1, 2004
Requested by
Other
Companion bill
HB 1339
Budget
Has a fiscal note
Versions
SB 5451, SSB 5451

AN ACT Relating to escrow agents and officers;

Sponsors

Prime sponsor: Don Benton (R-17)

4 co-sponsors (3 Democrats, 1 Republican)

Margarita Prentice D-11Shirley Winsley R-28Karen Keiser D-33Aaron Reardon D-38

Votes

Senate · 3rd Reading & Final Passage

Passed March 19, 2003
Version voted on: SSB 5451
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat24000
Republican25000
How each member voted

Yea (49)

Permalink to this vote

History

  1. Senate Rules "X" file. (SSB 5451)
  2. By resolution, reintroduced and retained in present status. (SSB 5451)
  3. By resolution, reintroduced and retained in present status. (SSB 5451)
  4. By resolution, reintroduced and retained in present status. (SSB 5451)
  5. By resolution, returned to Senate Rules Committee for third reading. (SSB 5451)
  6. Referred to Appropriations. (SSB 5451)
  7. FII - Executive action taken by committee. (SSB 5451)
  8. Minority; do not pass. (SSB 5451)
  9. FII - Majority; do pass. (SSB 5451)
  10. First reading, referred to Financial Institutions & Insurance. (SSB 5451)
  11. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0. (SSB 5451)
  12. Rules suspended. Placed on Third Reading. (SSB 5451)
  13. 1st substitute bill substituted. (SSB 5451)
  14. 1st substitute bill substituted.
  15. Placed on second reading by Rules Committee. (SSB 5451)
  16. Placed on second reading by Rules Committee.
  17. Made eligible to be placed on second reading. (SSB 5451)
  18. Made eligible to be placed on second reading.
  19. FSIH - Majority; 1st substitute bill be substituted, do pass. (SSB 5451)
  20. Passed to Rules Committee for second reading. (SSB 5451)
  21. Passed to Rules Committee for second reading.
  22. FSIH - Majority; 1st substitute bill be substituted, do pass.
  23. First reading, referred to Financial Services, Insurance & Housing.

SB 5451 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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