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Committee advances Uniform Special Deposits Act amendments after banking testimony
Summary
The committee passed Senate Bill 294, an opt‑in uniform law governing special deposits such as landlord security deposits and certain court settlements, after testimony from the Utah Bankers Association and clarifying member questions about property interests.
Senate Bill 294, the Uniform Special Deposits Act amendments, advanced out of the House Transportation Committee Monday after proponents described the measure as an ‘‘opt‑in’’ uniform law that clarifies the legal mechanics for special deposit arrangements such as landlord security deposits or certain court‑held settlement funds.
Sponsor remarks framed the bill as model legislation from the Uniform Law Commission that states may…
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