523A.403 - PURCHASE AGREEMENTS FUNDED BY CERTIFICATES OF DEPOSIT.
523A.403 PURCHASE AGREEMENTS FUNDED BY CERTIFICATES OF DEPOSIT. 1. A purchase agreement may be funded by proceeds derived from a certificate of deposit in the name of the purchaser made payable to the seller upon the purchaser's death. 2. The seller of a purchase agreement subject to this chapter which is to be funded by a certificate of deposit shall obtain all permits required to be obtained and comply with all reporting requirements under this chapter, implementing rules, and orders.
Section History: Recent Form 2001 Acts, ch 118, §30 Referred to in § 523A.201, 523A.203, 523A.807