Fla. Admin. Code Ann. R. 69O-193.023 - Escrow Agreements and Amendments

(1) Each escrow agreement or amendment required by Chapter 651, F.S., shall be filed and approved by the Office prior to its use in this state.

(2) Each escrow agreement or amendment must be signed by:

(a) The provider;

(b) The escrow agent, which must be a financial institution or trust acceptable to the Office.

(3) Each escrow agreement, in addition to all other requirements of law, must contain:

(a) The escrow account number, which may be added to the agreement after the form of the agreement has been approved by the Office;

(b) A physical location in Florida where the funds may be accessed; and

(c) A statement citing the specific provision of Chapter 651, F.S., for which the escrow agreement is drawn and for which the escrow account is established.

Notes

Fla. Admin. Code Ann. R. 69O-193.023

Rulemaking Authority 651.015(3) FS. Law Implemented 651.022, 651.023, 651.033 FS.

New 7-16-92, Formerly 4-193.023, Amended 9-15-05, Amended by Florida Register Volume 46, Number 038, February 25, 2020 effective 3/12/2020.

New 7-16-92, Formerly 4-193.023, Amended 9-15-05, Amended 3-12-20.