WA People
BILL · 2011–12 SESSION · LATEST VERSION SSB 6295

SB 6295: Exchange facilitators

Modifying certain exchange facilitator requirements and penalties.

Summary

  • Modifies provisions regarding fidelity bonds required for an exchange facilitator.
  • Requires an exchange facilitator and their client to independently authenticate a withdrawal from a qualified escrow account or qualified trust.
  • Requires additional disclosures.
  • Expands criminal penalties to include an exchange facilitator who fails to comply with the requirements regarding a fidelity bond, disclosure provisions, or withdrawal of funds.

From the Substitute House Bill Report (SSB 6295), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 34, Laws of 2012
  1. IntroducedJan 17, 2012
  2. Out of committeeFeb 1, 2012
  3. Passed SenateFeb 13, 2012
  4. Passed HouseFeb 27, 2012
  5. GovernorMar 7, 2012
  6. LawMar 7, 2012
Prime sponsor
Bob Morton (R-7)
Introduced
January 17, 2012 in the Senate
Last action
March 7, 2012
Session law
Chapter 34, Laws of 2012
Budget
Has a fiscal note
Versions
SB 6295, SSB 6295

AN ACT Relating to exchange facilitator requirements;

Sponsors

Prime sponsor: Bob Morton (R-7)

Votes

Senate · 3rd Reading & Final Passage

Passed February 13, 2012
Version voted on: SSB 6295
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat27000
Republican22000
How each member voted

Yea (49)

Permalink to this vote

House · Final Passage

Passed February 27, 2012
Version voted on: SSB 6295
97 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat56000
Republican41001
How each member voted

Yea (97)

Excused (1)

Permalink to this vote

History

  1. Effective date 6/7/2012. (SSB 6295)
  2. Chapter 34, 2012 Laws. (SSB 6295)
  3. Governor signed. (SSB 6295)
  4. Delivered to Governor. (SSB 6295)
  5. Speaker signed. (SSB 6295)
  6. President signed. (SSB 6295)
  7. Third reading, passed; yeas, 97; nays, 0; absent, 0; excused, 1. (SSB 6295)
  8. Rules suspended. Placed on Third Reading. (SSB 6295)
  9. Placed on second reading by Rules Committee. (SSB 6295)
  10. Referred to Rules 2 Review. (SSB 6295)
  11. BFS - Majority; do pass. (SSB 6295)
  12. BFS - Executive action taken by committee. (SSB 6295)
  13. First reading, referred to Business & Financial Services. (SSB 6295)
  14. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0. (SSB 6295)
  15. Rules suspended. Placed on Third Reading. (SSB 6295)
  16. 1st substitute bill substituted. (SSB 6295)
  17. 1st substitute bill substituted.
  18. Placed on second reading by Rules Committee. (SSB 6295)
  19. Placed on second reading by Rules Committee.
  20. FIHI - Majority; 1st substitute bill be substituted, do pass. (SSB 6295)
  21. Passed to Rules Committee for second reading. (SSB 6295)
  22. Passed to Rules Committee for second reading.
  23. FIHI - Majority; 1st substitute bill be substituted, do pass.
  24. First reading, referred to Financial Institutions, Housing & Insurance.

SB 6295 in other sessions

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

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