18 NCAC 06A .2023          ESCROW AGENT Duties, Responsibilities, and STANDARDS OF CONDUCT

An escrow agent and all persons associated with it shall:

(1)           observe high standards of commercial honor and just and equitable principles of trade in the conduct of its business;

(2)           give particular attention to any conflicts of interest that may arise or exist;

(3)           preserve and maintain all documents related to its status and service as an escrow agent for six years after the filing of the Form NCE and make such documents available to the Administrator upon request; and

(4)           provide notice to the Administrator of any material changes to the escrow agreement.


History Note:        Authority G.S. 78A-17.1(a)(5); 78A-17.1(f); 78A-49(a); 78A-49(d); 78A-64; S.L. 2016-103, s.4.(a);

Eff. April 1, 2017.