WHAT THE LAW DOINCongress, in plain words

The law › Title 12, Banks and Banking › Chapter 27

12 U.S.C. 2609: Limitation on requirement of advance deposits in escrow accounts

Created in 1974 by Public Law 93-533. Changed by 4 later laws. No bill we track in this Congress changes it.

4 other sections of the Code cite this one, including 12 U.S.C. 2604, 12 U.S.C. 2605, 15 U.S.C. 1638, 42 U.S.C. 4012a.

3 parts of federal rules cite it as their authority, written by Consumer Financial Protection Bureau (3).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    2010

    • Pub. L. 111–203, which directed amendment of "section 10(c) (12 U.S.C. 2609(c) and (d))" by substituting "Bureau" for "Secretary", was executed by making the substitution only in subsec. (c) as directed. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (c)

    1996

    • Pub. L. 104–208 substituted "The Secretary" for "Not later than the expiration of the 90-day period beginning on November 28, 1990, the Secretary" in second sentence. (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (c)

    1990

    • Pub. L. 101–625 designated existing provisions as subsec. (a), inserted heading, and added subsecs. (b) to (d).

    1976

    • Pub. L. 94–205 provided that in addition to amounts required for the payment of taxes, insurance premiums, and other charges due at settlement, the buyer could not be required at settlement to place into an escrow account more than one-sixth of the estimated total amount of such taxes, insurance pr…

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.