Current through Register 1536, December 6, 2024
Section 24.08 - Quarterly Escrow Deposits(1) The Attorney General shall consult with the Commissioner regarding whether an NPM must make its escrow deposits on a quarterly basis, pursuant to M.G.L. c. 94F s. 4(e), based on factors including the following: (a) Whether the NPM previously has timely and fully complied with M.G.L. c. 94E and M.G.L. c. 94F, including the submission of TPM Certifications, the establishment of a Qualified Escrow Fund, and the deposit of amounts due;(b) Whether the NPM has made any escrow deposit in the past year;(c) Whether the NPM has had more than 500,000 Units Sold during a previous calendar quarter; and(d) Whether the Attorney General has reason to believe that the NPM may not timely make its full required escrow deposit after the end of the calendar year.(2) The Attorney General may require the NPM to produce information sufficient to enable the Attorney General to determine the adequacy of the amount of such installment deposits. top of page