| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 87R5877 MWC-F | |
| 2 | 2 | By: Creighton S.B. No. 1958 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the disbursement of funds from a trust fund account by a | |
| 8 | 8 | title insurance company, title insurance agent, or escrow officer. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 2651.202, Insurance Code, is amended by | |
| 11 | 11 | adding Subsection (a-1) to read as follows: | |
| 12 | 12 | (a-1) For the purpose of this section, "good funds" includes | |
| 13 | 13 | money received and deposited in an account through an Automated | |
| 14 | 14 | Clearing House (ACH) transaction if the ACH transaction is | |
| 15 | 15 | irrevocable and final and cannot be canceled or reversed. | |
| 16 | 16 | SECTION 2. Section 2652.004, Insurance Code, is amended by | |
| 17 | 17 | adding Subsection (a-1) to read as follows: | |
| 18 | 18 | (a-1) For the purpose of this section, "good funds" includes | |
| 19 | 19 | money received and deposited in an account through an Automated | |
| 20 | 20 | Clearing House (ACH) transaction if the ACH transaction is | |
| 21 | 21 | irrevocable and final and cannot be canceled or reversed. | |
| 22 | 22 | SECTION 3. This Act takes effect January 1, 2022. |