§ 1337.06 ESCROW AGENT: DISBURSAL OF FUNDS WITHOUT CERTIFICATE OF CLOSE-OUT PROHIBITED.

No person, firm or corporation acting in the capacity of an escrow agent in any real estate transaction involving the sale of real estate situated in the city, shall transfer title or disburse any funds unless and until a close-out certificate or conditional close-out certificate has been deposited in escrow.

(Ord. 7868, passed 3-5-1987) Penalty, see § 1337.99

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