Arizona § 6-840 Prohibitions; definitions

Arizona Statutes

§ 6-840 — Prohibitions; definitions

Arizona § 6-840

Title 6Arizona Revised Statutes

Ch. 7ESCROW AGENTS

Art. 3Regulations

This text of Arizona § 6-840 (Prohibitions; definitions) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 6-840 (2026).

Text

A.An escrow agent shall not accept any escrow in which a participant in the escrow is an affiliate of the escrow agent unless:

1.The affiliation is disclosed to all nonaffiliated participants in writing by the escrow agent.

2.Use of the affiliated escrow agent is not required by the affiliate as a condition of making a loan or entering into any other agreement with the nonaffiliated participants.

B.For the purpose of this section:

1."Controlled escrow business" means the handling of an escrow by an escrow agent where an affiliate of the escrow agent is a participant in the escrow transaction.

2."Participant" means the buyer, seller, lender, mortgage broker, mortgage banker, real estate broker or real estate salesman or any person who is a party to the escrow transaction.

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A. An escrow agent shall not accept any escrow in which a participant in the escrow is an affiliate of the escrow agent unless:

1. The affiliation is disclosed to all nonaffiliated participants in writing by the escrow agent.

2. Use of the affiliated escrow agent is not required by the affiliate as a condition of making a loan or entering into any other agreement with the nonaffiliated participants.

B. For the purpose of this section:

1. "Controlled escrow business" means the handling of an escrow by an escrow agent where an affiliate of the escrow agent is a participant in the escrow transaction.

2. "Participant" means the buyer, seller, lender, mortgage broker, mortgage banker, real estate broker or real estate salesman or any person who is a party to the escrow transaction.