Plain Text Law

Regulation .05 Separate Accounts.

Regulation .05 Separate Accounts.Copy Citation

A.
Trust money which is not required to be deposited into a MAHT account may be deposited into any other deposit or investment vehicle:
(1)
Specified by the buyer or beneficial owner; or
(2)
Agreed upon by the buyer or beneficial owner and the title insurer or title insurance producer.
B.
An agreement referred to in §A of this regulation between a buyer or beneficial owner and a title insurer or title insurance producer shall be in writing and either be:
(1)
In a separate agreement; or
(2)
If part of another agreement between the parties, in conspicuous type and initialed by the buyer or beneficial owner.