Difference between revisions of "Title Agent Banking Requirements in Missouri"
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Davidjenkins (talk | contribs) (Created page with "==Overview== Missouri banking requirements follow those in the majority of states. ==Account Requirements== Funds must be kept in a separate fiduciary account or accounts i...") |
Davidjenkins (talk | contribs) (→Domiciliary Requirements) |
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==Domiciliary Requirements== | ==Domiciliary Requirements== | ||
| − | + | Missouri does not require that escrow funds be held in a bank domiciled in Missouri. A national Escrow Account may be used. | |
==Cross-References== | ==Cross-References== | ||
Revision as of 06:48, 27 September 2019
Overview
Missouri banking requirements follow those in the majority of states.
Account Requirements
Funds must be kept in a separate fiduciary account or accounts in a qualified depository institution. Funds must be deposited by the close of the 2nd business day after receipt. Mo. Ann. Stat. § 381.022(2).
Domiciliary Requirements
Missouri does not require that escrow funds be held in a bank domiciled in Missouri. A national Escrow Account may be used.
