Regulations last checked for updates: Oct 17, 2024

Title 12 - Banks and Banking last revised: Oct 15, 2024
§ 16.31 - Escrow requirement.

The OCC may require that any funds received in connection with an offer or sale of securities be held in an independent escrow account at an unrelated insured depository institution when the use of an escrow account is in the best interests of shareholders.

authority: 12 U.S.C. 1
source: 59 FR 54798, Nov. 2, 1994, unless otherwise noted.
cite as: 12 CFR 16.31