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Minnesota Statutes Trade Regulations, Consumer Protection (Ch. 324-341) § 332.303. Segregated accounts

Current as of January 01, 2025 | Updated by Findlaw Staff

A payment received by an accelerated mortgage payment provider from or on behalf of a client shall be held by the accelerated mortgage payment provider in a separate trust account clearly designated for client funds. The account shall be in a bank or other depository institution authorized or chartered under the laws of any state or of the United States. The accelerated mortgage payment provider shall not commingle funds held for payment to lenders with its own property or funds.

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Cite this article: FindLaw.com - Minnesota Statutes Trade Regulations, Consumer Protection (Ch. 324-341) § 332.303. Segregated accounts - last updated January 01, 2025 | https://codes.findlaw.com/mn/trade-regulations-consumer-protection-ch-324-341/mn-st-sect-332-303/

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