REAL ESTATE LIC-ESCROW MONEYS

Amends the Real Estate License Act of 2000. Provides that, prior to the consummation or termination of a transaction, escrow moneys shall be deemed abandoned and transferred to the Office of the State Treasurer to be handled as unclaimed property pursuant to the Uniform Disposition of Unclaimed Property Act only: (i) in the absence of disbursement under certain conditions; (ii) in the absence of notice of the filing of any claim in a court of competent jurisdiction; and (iii) if 6 months have elapsed after the receipt of a written demand for the escrow moneys from one of the principals to the transaction or the principal's duly authorized agent.