2005 Idaho Code - 30-919 — PROHIBITED PRACTICES

                                  TITLE  30
                                 CORPORATIONS
                                  CHAPTER 9
                               IDAHO ESCROW ACT
    30-919.  PROHIBITED PRACTICES. No escrow agency licensee or person
required to be licensed under this chapter, or any of its officers, directors,
members, general partners, employees or agents shall:
    (1)  Issue, circulate, make use of, publish or advertise, by any means of
communication, that a person is engaged in accepting or receiving escrows if
that person is not licensed under this chapter;
    (2)  Solicit or accept an escrow instruction or amended or supplemental
escrow instruction containing any blank to be filled in after signing or
initialing of the escrow instruction or permitting any person to make any
addition to, deletion from, or alteration of an escrow instruction or amended
or supplemental escrow instruction unless the addition, deletion or alteration
is signed or initialed by any affected party who signed or initialed the
escrow instruction or amended or supplemental escrow instruction prior to the
addition, deletion or alteration;
    (3)  Fail to carry out an escrow transaction pursuant to the written
escrow instructions unless amended by the written agreement of all parties to
the escrow agreement or their assigns;
    (4)  Accept funds or papers in escrow without a dated, written instruction
signed by the parties, or their authorized representatives, adequate to
administer the escrow  account and to provide for sufficient funds and
documents to carry out the terms of the escrow instructions. Funds and
documents deposited shall be used only in accordance with such written
instruction; provided that if additional specific instructions are needed, the
escrow agency shall obtain the consent of both parties or such representatives
to the escrow or an order of a court of competent jurisdiction at the expense
of the escrow parties;
    (5)  Fail to promptly distribute funds, deeds or other personal property
or instruments pursuant to escrow instructions;
    (6)  Fail to submit to an examination by the department of its books,
records and accounts, or refuse to provide to the department, within a
reasonable time, all information requested by the department pursuant to this
chapter;
    (7)  Fail to deliver, without reasonable cause, within a reasonable time
after the close of an escrow, to the respective parties of an escrow
transaction, any money, documents or other properties held in escrow in
violation of the provisions of the escrow instructions;
    (8)  Directly or indirectly employ any scheme, device or artifice to
defraud or mislead any person or engage in any unfair or deceptive practice
toward any person;
    (9)  Fail to supervise diligently and control the escrow-related
activities of its agents, employees and independent contractors;
    (10) Engage in fraudulent or dishonest abstraction or misappropriation or
embezzlement of funds or other property held in trust;
    (11) Pay a fee or give any portion of its fees or charges, including fees
for escrow services or other consideration, to any person as an inducement or
as compensation for the referral of any escrow business; or
    (12) Disburse funds or deliver documents from an escrow for recording or
otherwise unless the escrow contains a credit balance consisting of collected
funds, other than funds of the escrow agency or its affiliates, sufficient to
discharge all monetary conditions of the escrow. This requirement does not
apply to escrows established for the purpose of receiving two (2) or more
periodic payments over a total period of time after establishment in excess of
thirty (30) days.