Good Funds in Oregon

Wet or Dry Settlement

Dry

Definition

Not defined by statute.

Requirements

There must exist sufficient credit in an escrow account to cover a check against which account the check is drawn, executed or dated. OR Admin. Rule 863-050-0055(1). An escrow agent may not make a disbursement from an escrow account based on the receipt of a wire or electronic transfer deposited into the account until the escrow agent has verified the deposit. OR Admin. Rule 863-050-0100(6).

Exceptions to Requirements

N/A

Cross-References

• Oregon
• Good Funds