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Committee advances technical modernization of real-estate rules, allows email notices and extends earnest-money deadline
Summary
Senate Bill 2748 would align statute with updated MRDC rules, permit email instead of certified mail for license communications, and extend the deadline to deposit earnest money from one business day to two; committee advanced the bill and cited potential savings of about $44,000.
Rob Pillow explained Senate Bill 2748 as a modernization package aligning statutory language with current MRDC (real-estate commission) rules, updating communication methods to allow email rather than certified mail for renewal notices, and extending the required timeline for earnest-money submission from one business day to two to account for electronic transfers.
Pillow estimated the current certified-mail requirement costs the commission more than $44,000; changing to email would reduce that expense. The committee passed the committee substitute by voice vote and advanced the bill.
