Section R4-28-B1210. Earnest Money

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The developer shall deposit earnest money and down payments in a neutral depository if:

1.        The seller is in bankruptcy;

2.        The sale is conditional pursuant to R4-28-B1202; or

3.        The Department perceives a risk to the buyer.

Historical Note

Section R4-28-B1210 adopted by final rulemaking at 5

A.A.R. 650, effective February 3, 1999 (Supp. 99-1).

                    
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