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2007 SESSION

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SB 745 CRESPA; prohibits felons from acting as settlement agent thereunder.

Introduced by: Martin E. Williams | all patrons    ...    notes | add to my profiles | history

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:

CRESPA; felons as settlement agents. Prohibits any person who has been convicted of a felony from acting as a settlement agent under the Consumer Real Estate Settlement Protection Act. However, a person who has been convicted of a felony may act as a settlement agent if he has had his civil rights restored by the Governor or has been granted a writ of actual innocence. Persons convicted of a felony involving fraud, deceit or misrepresentation are also prohibited from working for settlement agents in a capacity involving the receipt or disbursement of funds from real estate settlements.

SUMMARY AS PASSED:

CRESPA; settlement agents; convicted felons. Prohibits any person who has been convicted of a felony, unless he has had his civil liberties restored, been pardoned, or granted a writ of actual innocence, from acting as a settlement agent under the Consumer Real Estate Settlement Protection Act. Persons convicted of a felony involving fraud, deceit or misrepresentation are also prohibited from working for settlement agents in a capacity involving the receipt or disbursement of funds from real estate settlements.

SUMMARY AS PASSED SENATE:

CRESPA; settlement agents; convicted felons. Prohibits any person who has been convicted of a felony from acting as a settlement agent under the Consumer Real Estate Settlement Protection Act. Persons convicted of a felony involving fraud, deceit or misrepresentation are also prohibited from working for settlement agents in a capacity involving the receipt or disbursement of funds from real estate settlements.

SUMMARY AS INTRODUCED:

CRESPA; settlement agents; convicted felons.  Prohibits any person who has been convicted of a felony from acting as a settlement agent under the Consumer Real Estate Settlement Protection Act.  Convicted felons are also prohibited from working for settlement agents in a capacity involving the receipt or disbursement of funds from real estate settlements.