TITLE 41

INSURANCE

CHAPTER 58

PUBLIC ADJUSTER LICENSING ACT

41-5816.  Escrow or trust accounts. A public adjuster who receives, accepts or holds any funds on behalf of an insured, towards the settlement of a claim for loss or damage, shall deposit the funds in a noninterest bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the public adjuster’s home state or where the loss occurred.

History:

[41-5816, added 2008, ch. 179, sec. 1, p. 541.]