61B-60.006 — Escrow Trust Depository; Closing Transactions

Florida Administrative Code Rule 61B-60.006 establishes requirements for escrow trust depositories in yacht and ship broker closing transactions.

The rule prescribes standards for the handling, accounting, and safeguarding of client funds held in escrow by yacht and ship brokers during closing transactions. The rule governs the establishment and maintenance of escrow trust accounts, documentation requirements, and disbursement procedures.

Yacht and ship brokers licensed under Chapter 61B-60, Florida Administrative Code.

Effective May 15, 2003.