6-811
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6-811. Exemptions A. The provisions of this chapter do not apply to and the term "escrow agent" does not include: 1. Any person who is licensed to practice law in this state and who is not actively engaged in conducting an escrow business. 2. Any person doing any of the acts specified in section 6-801, paragraph 4 pursuant to the order of a court. 3. Trustees of deeds of trust to the extent the activities are performed as a trustee under a deed of trust. 4. Any person doing any of the acts specified in section 6-801, paragraph 4 in a fiduciary capacity for any person, trust or estate pursuant to the order of a court. 5. Licensed real estate brokers who render certain services by collecting rents for others, as to such rents, and who within a reasonable time account for such rents to the person or persons properly entitled to such accounting. 6. Licensed real estate brokers who in the regular course of their business accept earnest money for the purpose of effecting the sale or transfer of property, as to such earnest money, and who within a reasonable time account for such earnest money to the prospective buyer or seller or to a licensed escrow agent. 7. Persons licensed pursuant to title 32, chapter 9, but only to the extent that these activities are regulated by title 32, chapter 9. 8. Any person who is licensed pursuant to chapter 9, article 2 of this title and who is approved to service loans for either: (a) The federal national mortgage association. (b) The federal home loan mortgage corporation. (c) The government national mortgage association. 9. Any person licensed pursuant to chapter 14, article 1 of this title. 10. Any person who is licensed pursuant to chapter 9, article 3 of this title. B. The provisions of this article do not apply to: 1. A person doing business under the laws of this state or the United States relating to banks, credit unions, savings banks, trust companies and savings and loan associations, except that this subsection does not exempt such banks, credit unions, trust companies, savings banks and savings and loan associations from regulation of such escrow activities under other statutes or laws of this state or of the United States nor does this subsection allow an affiliate of the bank, credit union, savings bank, trust company or savings and loan association to engage in the escrow business unless it is licensed pursuant to this article and engages in such a business in accordance with this chapter. 2. A person who is licensed pursuant to chapter 9, article 2 of this title and who is not approved to service loans for either: (a) The federal national mortgage association. (b) The federal home loan mortgage corporation. (c) The government national mortgage association. |