Whenever the Director shall deem it necessary in the public interest the Director may require that the proceeds of sale of the securities of an issuer be held intact until such proceeds aggregate a fixed amount and that such proceeds be held intact under an appropriate agreement of escrow with a bank or trust company approved by the Director.

6 Del. C. 1953, § ?7321; 59 Del. Laws, c. 208, § ?1; 70 Del. Laws, c. 186, § ?1; 78 Del. Laws, c. 175, §§ ?105, 118; 79 Del. Laws, c. 182, § ?3;

Terms Used In Delaware Code Title 6 Sec. 73-603

  • Director: means the Investor Protection Director, the principal executive officer of the Investor Protection Unit designated in § 73-102 of this title. See Delaware Code Title 6 Sec. 73-103
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Issuer: means any person who issues or proposes to issue any security. See Delaware Code Title 6 Sec. 73-103
  • Public interest: means that it shall appear to the Commissioner that the action taken or sanction imposed will further the purpose of this chapter. See Delaware Code Title 6 Sec. 73-103
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