No escrow or closing agent knowingly shall make, in an escrow transaction, a disbursement
from an escrow account on behalf of another person, unless the following conditions
(A) The funds necessary for the disbursement:
(1) Have been transferred electronically to or deposited into the escrow account of
the escrow or closing agent and are immediately available for withdrawal and disbursement;
(2) Are in an aggregate amount not exceeding ten thousand dollars, have been physically
received by the agent prior to disbursement and are intended for deposit no later
than the next banking day after the date of disbursement; or
(2) Cash, personal checks, business checks other than those described in division
(B)(1) of this section, certified checks, cashier's checks, official checks, or money
orders that are in an aggregate amount not exceeding ten thousand dollars and are
drawn on an existing account at a federally insured bank, savings and loan association,
credit union, or savings bank;
(3) Electronically transferred funds via the automated clearing house system initiated
by, or a check issued by, the United States or this state, or by an agency, instrumentality,
or political subdivision of the United States or this state; or
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