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Current as of March 28, 2024 | Updated by Findlaw Staff
(a) All real estate brokers participating in the interest on real estate brokers' trust accounts program shall post a notice at least four inches by seven inches (4″ x 7″) stating that they participate in the interest on real estate brokers' trust accounts program.
(b) The notice shall be displayed prominently and shall contain information concerning the purposes for which the interest accumulating on the account shall be used, and shall state: “If funds belonging to you are deposited in this firm's trust account, any interest earned therefrom will be forwarded by the depository bank to a nonprofit organization which will dispense the funds to provide for economic development, research, education, and such other public service purposes as may be determined by the recipient corporation selected by the Arkansas Real Estate Commission.”
Cite this article: FindLaw.com - Arkansas Code Title 17. Professions, Occupations, and Businesses § 17-42-602. Broker participation--Notice - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-17-professions-occupations-and-businesses/ar-code-sect-17-42-602/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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