S.C. Code Regs. § § 79-16

Current through Register Vol. 48, No. 11, November 22, 2024

Section 79-16 - Handling of Funds

A. All monies received by a salesperson or multi-lot salesperson in connection with the sale of a manufactured home shall be immediately delivered to the retail dealer.

B. A salesperson or multi-lot salesperson shall not commingle monies or any other valuables belonging to others which have come into the salesperson's or multi-lot salesperson's possession as a result of the sale of a manufactured home.

C. A retail dealer shall maintain in the retail dealer office a complete record of all monies received as a result of the sale or offer of sale of a manufactured home including:

(1) the amount of deposit/down payment;

(2) from whom the money was received;

(3) date or dates of receipt;

(4) date of deposit;

(5) make and serial number of manufactured home involved in the transaction; and

(6) when a transaction has been completed, whether or not a manufactured home was sold, the final disposition of the monies, except those monies related to sales commissions and profit by the dealer.

S.C. Code Regs. § 79-16

Added by State Register Volume 29, Issue No. 2, eff February 25, 2005.