Tennessee § 62-13-321 Escrow or trustee account of deposited funds

Tennessee Statutes

§ 62-13-321 — Escrow or trustee account of deposited funds

Every broker shall, in accordance with rules promulgated by the commission under § 62-13-203 , keep an escrow or trustee account of funds deposited with the broker relating to a real estate transaction. The broker shall maintain for a period of at least (3) years accurate records of the account showing:

(1)The depositor of the funds;

(2)The date of deposit;

(3)The date of withdrawal;

(4)The payee of the funds; and (5) Other pertinent information that the commission may require.

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Every broker shall, in accordance with rules promulgated by the commission under § 62-13-203 , keep an escrow or trustee account of funds deposited with the broker relating to a real estate transaction. The broker shall maintain for a period of at least (3) years accurate records of the account showing: (1) The depositor of the funds; (2) The date of deposit; (3) The date of withdrawal; (4) The payee of the funds; and (5) Other pertinent information that the commission may require.

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