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House concurs with Senate amendment allowing developer use of purchaser deposits backed by surety bond
HOUSE OF REPRESENTATIVES · April 18, 2024
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Summary
The House concurred in the Senate amendment to H.666, which enables developers to use purchaser deposits in a building project when secured by a 100% surety bond and requires developers provide purchasers a copy of that bond.
The House considered the Senate's proposed amendment to H.666, which would permit a developer to use purchaser deposits for a residential building project so long as the deposits are protected by a 100% surety…
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