Statutes, codes, and regulations
New Jersey Statutes
Title 45 - PROFESSIONS AND OCCUPATIONS
Chapter 45:15 - LICENSE REQUIRED
Section 45:15-12.7 - Agent, custodian may not use interest on escrow funds

N.J. Stat. § 45:15-12.7

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Current through L. 2024, c. 62.
Section 45:15-12.7 - Agent, custodian may not use interest on escrow funds

A real estate broker acting in the capacity of an escrow agent or as the temporary custodian of the funds of others in any real estate transaction shall not receive, obtain or use any interest earned on the funds for the broker's own personal or business use.

N.J.S. § 45:15-12.7

L.1993, c.51, s.44.