N.J.S.A. 45:15-12.7

Agent, custodian may not use interest on escrow funds

45:15-12.7. Agent, custodian may not use interest on escrow funds 44. A real estate broker acting in the capacity of an escrow agent or as the temporary custodian of the funds of others in any real estate transaction shall not receive, obtain or use any interest earned on the funds for the broker's own personal or business use. L.1993,c.51,s.44.

External source: View on Justia →

This is the verbatim text of N.J.S.A. 45:15-12.7, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.