West Virginia Code 19-2C-9a – Escrow accounts
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Each auctioneer shall maintain an escrow account and deposit all moneys from each sale from an auction in the escrow account within twenty-four hours of the completion of the sale or on the first business day following the sale, unless the owner or consignor was paid in cash directly at the end of the sale.
Terms Used In West Virginia Code 19-2C-9a
- Escrow: Money given to a third party to be held for payment until certain conditions are met.