20 CSR 2250-8

Citation: 20 CSR 2250-8
Jurisdiction: Missouri (state)
Source: Official source
Original Source: https://www.sos.mo.gov/cmsimages/adrules/csr/current/20csr/20c2250-8.pdf ↗

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Full Text

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John R. Ashcroft (6/30/23) CODE OF STATE REGULATIONS 15
Secretary of State
 DIVISION 2250—MISSOURI REAL ESTATE 20 CSR 2250-8—DEPARTMENT OF COMMERCE
COMMISSION AND INSURANCE

by the broker shall be an account in a bank, savings and loan,
or credit union.

(6) Fees or commissions payable to a broker must be withdrawn
from a property management escrow account at least once
a month unless otherwise agreed in writing. Any rent paid
in advance as a deposit for the last month’s rent or as rent
other than the current month’s rent held by a broker shall be
deposited in the property management escrow account unless
otherwise agreed to in writing.

(7) In addition to the notification required by section 339.105.2,
RSMo, each broker, upon the request of the commission
or its agent, shall consent to the examination and audit of
the broker’s property management escrow account(s) by the
commission or its agent. As part of the consent, each broker
shall execute a form presented to him/her by the commission
or its agent entitled Consent to Examine and Audit Escrow or
Trust Account.

(8) Each check written on an escrow account, or each
corresponding check stub, or other record of disbursement of
funds from the account and each deposit ticket shall indicate
the related transaction. Each check written on an escrow
account for licensee fees or commission shall be made payable
to the licensee who is owed the fee or commission or to the
firm’s general operating account.