56-6-915 - Escrow or trust account.
56-6-915. Escrow or trust account.
A public adjuster who receives, accepts or holds any funds on behalf of an insured, towards the settlement of a claim for loss or damage, shall deposit the funds in a noninterest-bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the insured's home state or in the state where the loss occurred.
[Acts 2006, ch. 997, § 16.]