Tenn. Code § 62-13-321

Current through Acts 2023-2024, ch. 1069

Section 62-13-321 - Escrow or trustee account of deposited funds

Every broker shall, in accordance with rules promulgated by the commission under § 62-13-203, keep an escrow or trustee account of funds deposited with the broker relating to a real estate transaction. The broker shall maintain for a period of at least (3) years accurate records of the account showing:

(1) The depositor of the funds;

(2) The date of deposit;

(3) The date of withdrawal;

(4) The payee of the funds; and

(5) Other pertinent information that the commission may require.

T.C.A. § 62-13-321

Acts 1988, ch. 919, § 1.