Bill Text: HI SB2921 | 2010 | Regular Session | Amended

---

Bill Title: Escrow Depositories; Real Property

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2010-04-23 - (S) Act 049, 4/23/2010 (Gov. Msg. No. 511). [SB2921 Detail]

Download: Hawaii-2010-SB2921-Amended.html

---

 

 

STAND. COM. REP. NO.  1093-10

 

Honolulu, Hawaii

                , 2010

 

RE:   S.B. No. 2921

      S.D. 1

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Sir:

 

     Your Committee on Judiciary, to which was referred S.B. No. 2921, S.D. 1, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO ESCROW DEPOSITORIES,"

 

begs leave to report as follows:

 

     The purpose of this bill is to increase consumer protections and help ensure consistency for all entities performing escrow services relating to Hawaii real property by requiring the entity operating as an escrow depository for property located in the state to be licensed by the Commissioner of Financial Institutions.

 

     The Department of Commerce and Consumer Affairs and Title Guaranty Escrow Services, Inc., testified in support of this bill.

 

     As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2921, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Judiciary,

 

 

		____________________________ JON RIKI KARAMATSU, Chair