Pennsylvania Code & Bulletin

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The Pennsylvania Code website reflects the Pennsylvania Code changes effective through 52 Pa.B. 6342 (October 1, 2022).

52 Pa. Code § 1029.15. Duty to deposit money belonging to another into escrow account.

§ 1029.15. Duty to deposit money belonging to another into escrow account.

 A broker shall deposit money that the broker receives belonging to another into an escrow account in a Federally- or State-insured bank or depository to be held pending consummation of the sale of rights subject to the act or a prior termination thereof that does not involve a dispute between the parties to the sale, at which time the broker shall pay over the full amount to the party entitled to receive it.

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