WeVote
Log In

Bill

Bill

HB 4492

Limiting broker deposits to $500

2026 Regular Session Introduced by Kathie Hess Crouse and 4 co-sponsors

HB 4492 caps broker deposits at $500 in West Virginia, potentially restricting deposit-holding operations in brokerage industries.

To House Government Organization
#professionsandoccupations
0
WeVote Research Nonpartisan
Bill Summary · HB 4492

Legislative bill overview

HB 4492 proposes to cap broker deposits at $500 in West Virginia. The bill was recently introduced in the House and referred to the House Government Organization Committee. The specific mechanics of how this cap would apply—whether to real estate brokers, insurance brokers, or another type of broker—are not detailed in the available information.

Why is this important

Deposit limits affect how brokers can operate and manage client funds, potentially impacting transaction processes, fraud protections, and business operations. The $500 cap could significantly constrain certain industries' standard practices, depending on which broker type is targeted and how the regulation is enforced.

Potential points of contention

  • Unclear scope: The bill's definition of "broker" and the types of deposits covered is not specified, making it difficult to assess full impact on real estate, insurance, securities, or other brokerage sectors
  • Operational feasibility: A $500 cap may be impractical for legitimate business transactions, potentially disrupting standard escrow and deposit procedures in real estate or other industries
  • Consumer protection trade-offs: Lower deposit limits might reduce fraud risk but could also complicate legitimate transactions or shift funds into less regulated holding arrangements

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.