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Code · North Carolina · Chapter 58 — Insurance

§ 58-33A-70. Escrow or trust accounts.

70 words·~1 min read·/nc/chapter-58/58-33a-70

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§ 58-33A-70. Escrow or trust accounts.
A public adjuster who receives, accepts, or holds any funds on behalf of an insured, toward the settlement of a claim for loss or damage, shall deposit the funds in a noninterest-bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the public adjuster's home state or where the loss occurred. (2009-565, s. 1.)
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