27-7-3.7-8. Disbursements; requirements for funds less than $10,000 received from single party

IN Code § 27-7-3.7-8 (2019) (N/A)
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Sec. 8. A closing agent may not make disbursements from an escrow account in connection with a real estate transaction unless any funds that:

(1) are received from any single party to the real estate transaction; and

(2) in the aggregate are less than ten thousand dollars ($10,000);

are good funds.

As added by P.L.92-2009, SEC.1.