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| Action Summary | Chapter 60 of the 2018 Acts of Assembly added a new statute concerning protection of escrow funds in the event of termination of a real estate purchase contract. The Real Estate Board must conform relevant subsections of 18 VAC 135-20-80, which addresses maintenance and management of escrow accounts for real estate transactions, to the provisions of § 54.1-2108.2 of the Code of Virginia. |
| Chapters Affected | Only affects this chapter. |
| Executive Branch Review | This Action is exempt from Article 2 of the Administrative Process Act. The normal executive branch review process is not required. As such, it can be submitted directly for publication and is effective upon publication. Exempt Citation: § 2.2-4006.A.4.a of the Code of Virginia |
| RIS Project | Yes [005659] |
| Associated Mandates | Post-license and continuing education requirements; escrow funds |
| New Periodic Review | This action will not be used to conduct a new periodic review. |
| Stage ID | Stage Type | Status |
|---|---|---|
| 8376 | Final | Stage complete. This regulation became effective on 11/01/2018. |
| Name / Title: | Anika Coleman / Executive Director |
| Address: |
9960 Mayland Drive, Suite 400 Suite 400 Richmond, VA 23233 |
| Email Address: | reboard@dpor.virginia.gov |
| Phone: | (804)367-8552 FAX: (866)826-8863 TDD: ()- |