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1995 SESSION

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HB 1839 Protection of escrow accounts by health regulatory boards.

Introduced by: Harvey B. Morgan | all patrons    ...    notes | add to my profiles

SUMMARY:

Department of Health Professions; authority to seek equitable relief. Authorizes the Director of the Department of Health Professions or investigative personnel within the Department to petition for injunctive and other equitable relief when there is reason to believe that a licensee of the Department is unable to protect adequately the funds of third persons held by the licensee in escrow or trust, or in some other fiduciary capacity. A court with equity jurisdiction is authorized by this measure to take further action as necessary to conserve, protect or disburse such funds, including the appointment of a receiver. If a receiver is appointed, the court will determine the receiver's fee and expenses which are to be paid by the licensee.

This bill was recommended by the Joint Subcommittee Studying Preneed Funeral Contract Sales and Marketing Practices (HJR 141, 1994).


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