Pennsylvania Code
Title 49 - PROFESSIONAL AND VOCATIONAL STANDARDS
Part I - DEPARTMENT OF STATE
Subpart A - PROFESSIONAL AND OCCUPATIONAL AFFAIRS
Chapter 35 - STATE REAL ESTATE COMMISSION
Subchapter E - STANDARDS OF CONDUCT AND PRACTICE
ESCROW REQUIREMENTS
Section 35.326 - Prohibition against commingling or misappropriation
Current through Register Vol. 54, No. 44, November 2, 2024
(a) Except as provided in subsection (b), a broker may not commingle money that is required to be held in escrow-or interest earned on an escrow account-with business, personal or other funds.
(b) A broker may deposit business or personal funds into an escrow account to cover service charges assessed to the account by the bank or depository where the account is located or to maintain a minimum balance in the account as required by the regulations of the bank or depository.
(c) A broker may not misappropriate money that is required to be held in escrow-or interest earned on an escrow account-for business, personal or other purposes.
The provisions of this §35.326 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902).
