party has failed to perform as agreed, but this disbursement anyone other than the broker, it is the listing broker’s responsibility
shall only be made after the broker has given fifteen (15) days’ to deliver the closing statement to the buyer and seller.
written notice by certified mail to all parties concerned at their
last known address setting forth the broker’s proposed action. (1) Every broker shall deliver or cause to have delivered to the
The commission will not take disciplinary action against a buyer and the seller in every real estate transaction where s/he
broker who in good faith disburses escrow monies or other acts as a broker, at the time the transaction is consummated,
valuables pursuant to this rule; however, nothing in this rule a complete, accurate and detailed statement showing all
relieves a broker of any civil action which the damaged party material financial aspects of the transaction, including the
may file in a court of law nor does this rule require a broker true sale price, the earnest money received, any mortgages or
to remove money or other valuables from the broker’s escrow deeds of trust of record, all money received by the broker in
account when disposition is disputed by the parties. the transaction, the amount, and payee(s) of all disbursements
made by the broker. If the buyer and seller are represented by
AUTHORITY: section 339.120, RSMo Supp. 1993.* This rule originally different brokers, it shall be the responsibility of the listing
filed as 4 CSR 250-8.130. Original rule filed Nov. 14, 1978, effective broker to deliver, or cause to have delivered, the closing
Feb. 11, 1979. Amended: Filed Sept. 7, 1984, effective Dec. 13, 1984. statements. If a broker personally handles a closing, on the day
Amended: Filed Oct. 2, 1985, effective