§514A-65 - Escrow requirement.
§514A-65 Escrow requirement. All moneys paid by purchasers prior to the purchaser's receipt of the contingent final public report or the final public report on the project shall be deposited in trust under escrow arrangement with instructions that no disbursements shall be made from such trust funds on behalf of the seller until the contract has become binding, and the requirements of sections 514A-40, 514A-63, and 514A-64.5 have been met. [L 1977, c 98, pt of §2; am L 1984, c 58, §8; am L 1991, c 44, §24; am L 1997, c 135, §11]