Sec. 2. As used in this chapter, "escrow account" means a checking account established by a closing agent with a:
(1) bank;
(2) savings and loan association;
(3) credit union; or
(4) savings bank;
that is chartered under the laws of a state or the United States and used exclusively for the deposit and disbursement of funds for an escrow transaction.
As added by P.L.92-2009, SEC.1.
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