Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
332.303 SEGREGATED ACCOUNTS.
A payment received by an accelerated mortgage payment provider from or on behalf of a
client shall be held by the accelerated mortgage payment provider in a separate trust account
clearly designated for client funds. The account shall be in a bank or other depository institution
authorized or chartered under the laws of any state or of the United States. The accelerated
mortgage payment provider shall not commingle funds held for payment to lenders with its
own property or funds.
History: 1994 c 638 s 5
A payment received by an accelerated mortgage payment provider from or on behalf of a
client shall be held by the accelerated mortgage payment provider in a separate trust account
clearly designated for client funds. The account shall be in a bank or other depository institution
authorized or chartered under the laws of any state or of the United States. The accelerated
mortgage payment provider shall not commingle funds held for payment to lenders with its
own property or funds.
History: 1994 c 638 s 5
Official Publication of the State of Minnesota
Revisor of Statutes