All money paid or advanced by a purchaser or lessee or prospective purchaser or prospective lessee in respect of any lot, parcel, unit, or interest in any subdivision, the advertisement, offering, or disposition of which is controlled by this chapter, or such portion thereof as the department may determine is sufficient for the protection of the interests of the purchaser or lessee, shall be deposited by the seller or lessor in an escrow account, approved by the department, in a bank doing business in this state. The money shall remain in such escrow account until:
R.I. Gen. Laws § 34-38-8