Oregon Statutes 94.878 – Duties of escrow agent
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An escrow agent holding funds under ORS § 94.873:
Terms Used In Oregon Statutes 94.878
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
(1) May invest the escrowed funds in securities of the federal government or any agency thereof or in savings or time deposits in institutions insured by an agency of the federal government according to the terms of the agreement between the escrow agent and the developer.
(2) Shall maintain separate books and records for each timeshare plan in accordance with generally accepted accounting methods. [1983 c.530 § 36]