Section Rea 702.01 - Trust Accounts(a) Every resident and non-resident principal broker who in the course of her or his real estate business in the State of New Hampshire receives, accepts, and holds any monies on behalf of any principal, client, or other person shall at all times maintain a separate escrow or real estate trust account, distinct from her or his own account, in a financial institution of her or his choice located in this state, for the deposit of all such monies so received by the licensee, pursuant to RSA 331-A:13.(b) Upon acceptance and execution of a contract, all earnest money deposited and down payments received by a principal broker as escrow agent in a real estate transaction shall be promptly deposited in her or his separate escrow or real estate trust account, pursuant to RSA 331-A:13, when at that time the principal broker shall be responsible to make full accounting thereof to the signatories to the contract.N.H. Admin. Code § Rea 702.01
#5076, eff 2-21-91 (from Rea 404.03 ); ss by #5576, eff 2-11-93, EXPIRED: 2-11-99
New. #7164, INTERIM, eff 12-18-99, EXPIRED: 4-16-00
New. #7267, eff 5-6-00; ss by #7522, eff 6-28-01; ss by #8835, eff 5-1-07
Amended by Volume XXXVI Number 06, Filed February 11, 2016, Proposed by #11030, Effective 1/28/2016, Expires 7/26/2016.Amended by Volume XXXVII Number 28, Filed July 13, 2017, Proposed by #12213, Effective 6/18/2017, Expires 6/18/2027.