(at the request of House Interim Committee on Judiciary for Oregon State Bar Board of Governors on behalf of Oregon Law Foundation)
Chief Sponsors:
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Remove
Regular Sponsors:
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Bill Title:
Relating to escrow accounts.
Catchline/Summary:
Requires, when parties utilize services of escrow agents, trust funds to be deposited in interest-bearing accounts. Requires, when parties utilize services of escrow agents, trust funds to be deposited in interest-bearing accounts. If trust funds are not expected to produce net positive return, requires funds to be deposited in pooled interest-bearing trust account. Requires interest, net of reasonable costs, to be distributed to public benefit corporations that are organized for purpose of supporting access to justice and that distribute funds to provide legal services to persons of lesser means.
Applies to interest accrued on funds deposited with escrow agents or after January 1, 2014.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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HB 2608 House Committee On Business and Labor
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