52 Pa. Code § 1029.19 - 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
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