NAC598.020. Date of opening of account.

Latest version.

1. If a dealer mails to an escrow agent, by certified mail, a purchaser’s deposit and such information as the agent needs to open an escrow account, the mailing shall be deemed sufficient for compliance with the statutory requirement for opening an escrow account. The postmark date is determinative of the date of the opening.

2. When a dealer makes a deposit directly with an escrow agent, the date of the agent’s receipt of the deposit is determinative of the date of the opening of the escrow account.

[Mfd. Housing Div., Escrow Accounts Reg. § 2.5, eff. 12-30-81]

                    
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