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New Jersey Statutes, Title: 45, PROFESSIONS AND OCCUPATIONS
Chapter 15: License required.
Section: 45:15-12.7: Agent, custodian may not use interest on escrow funds
44. A real estate broker acting in the capacity of an escrow agent or as the temporary custodian of the funds of others in any real estate transaction shall not receive, obtain or use any interest earned on the funds for the broker's own personal or business use.
L.1993,c.51,s.44.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 45:15-12.7 (if available):
Court decisions that cite this statute:
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