Minnesota Administrative Rules
Agency 151 - Labor and Industry Department
Chapter 1350 - MANUFACTURED HOMES
LICENSING OF MANUFACTURERS, DEALERS, LIMITED DEALERS, AND DEALERS' SUBAGENCIES
Part 1350.8400 - TRUST FUNDS
Universal Citation: MN Rules 1350.8400
Current through Register Vol. 49, No. 13, September 23, 2024
The broker with whom trust funds are to be deposited in satisfaction of Minnesota Statutes, section 327B.08, subdivision 3, shall be the broker under contract for the sale of the manufactured home with the seller.
Trust funds must be maintained in the trust account until they are disbursed in accordance with the terms of the applicable agreements. Disbursement must be made within 14 days following the consummation or termination of a transaction if the applicable agreements are silent as to the time of disbursement.
Statutory Authority: MS s 327B.10
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