Sharon Quirk-Silva
- Democratic
- Assemblymember
- District 67
Author
Existing law, the Escrow Law, requires people engaging in business as escrow agents to be organized as corporations for that purpose, as specified, and appropriately licensed by the Commissioner of Business Oversight. Existing law requires an escrow agent licensed on or after January 1, 1986, to maintain a tangible net worth of $50,000, including liquid assets of at least $25,000 in excess of current liabilities. Existing law requires an escrow agent licensed before January 1, 1986, to maintain a tangible net worth pursuant to a prescribed schedule, the amounts of which, in 1993, matched those required for escrow agents licensed on and after that date. Existing law provides criminal penalties for willful violations of the Escrow Law. This bill would delete the tangible net worth schedule for escrow agents licensed before January 1, 1986, as described above, and eliminate distinctions based on when an agent was licensed in this context. The bill would exclude a liability derived from an operating lease obligation from a licensee's current liabilities for purposes of establishing tangible net worth.
Consideration of Governor's veto stricken from file.
Consideration of Governor's veto pending.
Vetoed by Governor.
Enrolled and presented to the Governor at 3 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 75. Noes 0. Page 2892.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 29 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2288.).
Read second time. Ordered to third reading.
Read third time and amended. Ordered to second reading.
Read second time. Ordered to third reading.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (June 5). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F.I.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 1360.)
Read second time. Ordered to Consent Calendar.
From committee: Do pass. To Consent Calendar. (Ayes 17. Noes 0.) (April 10).
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 12. Noes 0.) (April 1). Re-referred to Com. on APPR.
From printer. May be heard in committee March 10.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB412 | HTML |
| 02/07/19 - Introduced | |
| 05/21/19 - Amended Senate | |
| 08/15/19 - Amended Senate | |
| 09/03/19 - Enrolled |
| Document | Format |
|---|---|
| No related documents. |
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