Missouri legislation · 2025 Regular Session
Missouri HB1211: Modifies provisions relating to separate bank escrow accounts maintained by brokers
Status: In committee, April 23, 2025
What the bill says
From the amended text:
FIRST REGULAR SESSION HOUSE COMMITTEE SUBSTITUTE FOR HOUSE BILL NO. 1211 103RD GENERAL ASSEMBLY 2743H.02C JOSEPHENGLER,ChiefClerk To repeal section 339.105, RSMo, and to enact in lieu thereof one new section relating to separate bank escrow accounts maintained by brokers. Section A. Section 339.105, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 339.105, to read as follows: 339.105. 1. Each broker who holds funds belonging to another shall maintain such fundsinaseparatebankaccountinafinancialinstitutionwhichshallbedesignatedanescrow or trust account. This requirement includes funds in which he or she may have some future interest or claim. Such funds shall be deposited promptly unless all parties having an interest in the fundshave agreed otherwise in writing. No broker shall commingle his orher personal funds or other funds in this account with the exception that: (1) A broker may deposit and keep a sum not to exceed one thousand dollars in the account from his or her personal funds, which sum shall be specifically identified and deposited to cover service charges related to the account; and (2) A broker may keep in the account any interest accrued on the funds in the account payable to the broker as long as any payment of such interest is withdrawn from the account within thirty days of receipt. 2. Each broker shall notify the …
Sponsors
- John Voss (R, 147) · primary sponsor
Latest actions
- : Referred: Rules - Administrative(H)
- : HCS Reported Do Pass (H) - AYES: 13 NOES: 0 PRESENT: 0
- : HCS Voted Do Pass (H)
- : Executive Session Completed (H)
- : Public Hearing Completed (H)
- : Referred: Financial Institutions(H)
- : Read Second Time (H)
- : Introduced and Read First Time (H)
Votes
- HCS Reported Do Pass (H) (April 3, 2025): 13 yea, 0 nay, passed
Common questions
- What is HB1211?
- HB1211 is a bill in the Missouri Legislature (2025 Regular Session): Modifies provisions relating to separate bank escrow accounts maintained by brokers.
- What is the status of HB1211?
- In committee as of April 23, 2025. Latest action: Referred: Rules - Administrative(H) (April 23, 2025).
- Who sponsored HB1211?
- John Voss (R, 147).
- Where is the official record for HB1211?
- On the Missouri Legislature website: https://house.mo.gov/BillContent.aspx?bill=HB1211&year=2025&code=R
Source: official Missouri record. Tracked by Delilah, AI for legislation across all 50 states and Congress.