49 Pa. Code § 35.326 - Prohibition against commingling or misappropriation
(a) Except as provided in subsection (b), a broker
may not commingle money that is required to be held in escrow-or interest earned on
an escrow account-with business, personal or other funds.
(b) A broker may deposit business or personal
funds into an escrow account to cover service charges assessed to the account by the
bank or depository where the account is located or to maintain a minimum balance in
the account as required by the regulations of the bank or depository.
(c) A broker may not misappropriate money that is
required to be held in escrow-or interest earned on an escrow account-for business,
personal or other purposes.
Notes
The provisions of this §35.326 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902).
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