South Dakota Codified Laws 36-21A-76. Co-brokerage transaction–Money held in broker’s trust account
Current as of: 2023 | Check for updates
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Any earnest money paid in a cooperative or cobrokerage transaction shall be held in a broker’s trust account unless otherwise agreed to by the buyer and seller.
Terms Used In South Dakota Codified Laws 36-21A-76
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
Source: SL 1992, ch 273, § 76; SL 2012, ch 195, § 1.