74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
HA to HB 2490
 
LC 162/HB 2490-1
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2490
 
               By COMMITTEE ON BUSINESS AND LABOR
 
                             April 6
 
  On page 2 of the printed bill, delete lines 5 through 8 and
insert:
  ' (7) Except as authorized in ORS 105.475, notwithstanding the
requirement for dated, separate escrow instructions to close an
escrow or disburse funds or property in an escrow, an escrow
agent:
  ' (a) May disburse earnest money deposited based on an
agreement of the parties executed after the initial sales
agreement; and
  ' (b) May not impose additional requirements on the principals
to the transaction, including a requirement that the principals
sign a release of liability in favor of the escrow agent.'.
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