PURPOSE: This rule stipulates the commission’s authority to 20 CSR 2250-8.220 Escrow or Trust Account and a Separate
present a complaint to the Administrative Hearing Commission Property Management Escrow Account Required
against any licensee who is acting in any manner inimical to the
public interest. PURPOSE: This rule removes any uncertainty as to how monies
received in connection with the management or rental of real
(1) Failure of a licensee to respond in writing, within thirty estate are required to be maintained. A broker must establish and
(30) days from the date of the commission’s written request or maintain a separate escrow account as a property management
inquiry, mailed to the licensee’s address currently registered escrow account to act as an operating account for the rental
with the commission, will be sufficient grounds for taking property(ies) managed. A broker must deposit in this account
disciplinary action against that licensee. current rents and monies received for payments to third parties.
A broker may establish and maintain additional property
AUTHORITY: section 339.120, RSMo Supp. 1993.* This rule originally management escrow accounts as needed, provided the broker
filed as 4 CSR 250-8.170. Original rule filed Nov. 14, 1978, effective complies with this rule and section 339.105, RSMo. A broker is
Feb. 11, 1979. Amended: Filed June 16, 1989, effective Sept. 28, 1989. also required to deposit into an escrow account, other than the
Amended: Filed Feb. 2, 1994, effective Aug. 28, 1994. Moved to 20 property management escrow account, security deposits and any
CSR 2250-8.170, effective Aug. 28, 2006. rent, other than current rent, and to maintain these funds intact.
This rule also requires a salesperson to immediately deliver to the
*Original