Title Agent Banking Requirements in Maine
From WFG Wiki
Revision as of 12:48, 7 July 2018 by Davidjenkins (talk | contribs) (Created page with "==Overview== There is almost no regulation regarding the use of bank accounts by title insurance agents in Maine. ==Domiciled Bank== Not required. A bank located in any stat...")
Overview
There is almost no regulation regarding the use of bank accounts by title insurance agents in Maine.
Domiciled Bank
Not required. A bank located in any state may be used.
Account Type
No special requirements. A regular, non-interest bearing account may be used. Attorneys who conduct closings, however, are required to use their required IOLTA trust account which pays interest to the Maine Bar Foundation.
Segregated Funds
Not required. A national account may be used.
