BILL · 2005–06 SESSION

SB 5137: Vessel dealer trust accounts

Adjusting procedures of vessel dealer trust accounts.

Summary

  • When a vessel dealer receives a deposit in excess of $1000, or any deposit which will be held for more than 14 days, the dealer must deposit the funds into the trust account within 48 hours of acceptance of the offer by the seller and the buyer. Moreover, the offer must be made to the seller within 48 hours of receipt of the funds, or the deposit must be returned to the buyer or deposited in the trust account.

From the Senate Bill Report (SB 5137), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · stalled on the Senate floor
  1. IntroducedJan 14, 2005
  2. Out of committeeFeb 25, 2005
  3. Passed Senatestopped here
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Mary Margaret Haugen (D-10)
Introduced
January 14, 2005 in the Senate
Last action
January 9, 2006

AN ACT Relating to vessel dealer trust accounts;

Sponsors

Prime sponsor: Mary Margaret Haugen (D-10)

3 co-sponsors (1 Democrat, 2 Republicans)

Votes

No recorded floor votes.

History

  1. By resolution, reintroduced and retained in present status.
  2. Senate Rules "X" file.
  3. Passed to Rules Committee for second reading.
  4. TRAN - Majority; do pass.
  5. First reading, referred to Transportation.

SB 5137 in other sessions

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

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