Ind. Code § 27-7-3.7-7
Disbursements; requirements for funds of at least $10,000 received from single party
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-7-3.7-7, Disbursements; requirements for funds of at least $10,000 received from single party, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1663514
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Full text
Sec. 7.
(a) This section applies to an escrow account that contains funds that:
(1) are received from any single party to a real estate transaction; and
(2) in the aggregate are at least ten thousand dollars ($10,000).
(b) A closing agent may make disbursements from an escrow account described in subsection (a) in connection with a real estate transaction only if both of the following apply:
(1) All the funds described in subsection (a) are good funds.
(2) Any funds described in subsection (a) in excess of ten thousand dollars ($10,000) are good funds described in section 4(2) of this chapter.