He or she must make the disbursement: sponsoring broker will disburse any commissions and/or fees, If applicable, the sponsoring broker will disburse any commissions and/or fees he or she has earned in the transaction from the funds deposited in an escrow account. 32-2151.01. 0000000969 00000 n escrow account until: A) The authorized agents consenting to the disposition, in which case the escrow Personal property can be offered as an earnest deposit. A sponsoring broker must keep all escrow records for __________ years (as designated by that particular state's laws). \end{array} Why does my broker have to retain records for FINRA? }\\ legal tender or financial consideration deposited with any person for the mutual A. The escrow holder must maintain records and files on a____ basis, provide excellent and efficient customer service, and ensure that the account is NEVER overdrawn, since an overdrawn account is strictly forbidden. $$ T he broker must deposit the funds in the escrow account "immediately," which is defined as within three business days. By clicking Accept All, you consent to the use of ALL the cookies. D. printing money to cover a budget deficit. If you and BotBroker are unable to resolve the claims described in the Notice within 30 days after the Notice is sent, you or BotBroker may initiate arbitration proceedings. Most states regulate the management of escrow accounts by______. sound accounting principles, including a system utilizing electronic data. An escrow account must be non-interest bearing and must be maintained at a federally-insured depository. that office. documentation of all funds disbursed from or transferred in or out of an escrow In addition to the Master Escrow Account Log, what other records is a sponsoring broker required to keep? As set forth in Section 20-20(a)(17) of the Act, sponsoring brokers Which of the following is correct concerning a brokers required record keeping? 0000002571 00000 n 0000002819 00000 n If any disputes between parties arise regarding escrow money, the sponsoring broker should continue to "hold" the money until one of the following takes place: 1. They can work independently and hire other real estate agents to work for them. )!p=0{.UskO/iP2(V-`IgUI4i;,*}#c!K6b. 'X@] 0\%@9 & `-JL?dd0G:30M&pCznsD< @l 9 __________ is an illegal act in which a real estate licensee places client or customer funds with his or her own personal funds. If the money is in the form of a check that is to be held uncashed until the offer has been accepted. The __________ will segregate one transaction from another transaction. What are the new rules for brokers and dealers? When a request is made by the Illinois Division of Professional Regulation to produce escrow records, the sponsoring broker has, Sometimes earnest money is provided by someone other than the party to the contract. John a sponsoring broker may transfer escrow monies needed for a particular closing to that . There can be advantages to investing in uncertain market conditions, rather than completely turning yourself off to new opportunities. contract regarding the release of the escrow moneys shall be adhered to by the sponsoring broker. associated with the interpleader action, costs and attorney's fees associated Marty Vance's charge account uses the unpaid-balance method to compute the finance charge at a monthly periodic rate of 1.75%. and/or fees earned by a sponsoring broker in any transaction shall be disbursed However, he or she can keep the balance of the records at another location. information shall be submitted by the sponsoring broker to the Division within 8) As 9) If (Section 475.22, Florida Statutes, and Section 61J2-10.022, Florida Administrative Code) b) Escrow consummation or termination of the transaction, the sponsoring broker receives These cookies track visitors across websites and collect information to provide customized ads. B) After a written work sheet comparing the balances as shown on the bank statement, the If a sponsoring broker makes a change to an escrow account, including a change of depository, method of doing business, or persons authorized to make withdrawal, the broker must, report the change to the Division within 10 days, No sponsored licensee may maintain his or her own, A property manager must maintain all security deposits in an escrow account for the duration of the lease, unless. How often do brokers reconcile escrow accounts? how the sponsoring broker intends to disburse the earnest money; and. If the ledger and journal are computer generated from the same In most cases, when must security deposits be deposited? How long does broker have to keep business records? 0000003522 00000 n and keep in any escrow account, an amount sufficient to avoid incurring service 19 Q Sponsoring brokers must submit termination documents for a previously sponsored licensee to the department of financial and professional regulation? A sponsoring broker must keep all escrow records for __ years. Escrow Account Log. Records. sponsored licensees tender escrow moneys received in compliance with this Part. A ledger shall be maintained for each transaction. require, in writing, that the deposit be placed in an interest bearing account. account for the data on the ledger. endstream endobj 69 0 obj <> endobj 70 0 obj <> endobj 71 0 obj <>stream to the Division of the Identity of All Escrow Accounts and the Consent to Examine may be deposited with the court; C) The Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjustment for lower of cost and net realizable value. Make sure you examine your account statements and trade . This journal must show the chronological sequence in which funds are received and disbursed by the sponsoring broker. B) Otherwise \hline knowledge that any party to a transaction contests or disagrees with an 3) It 5-7 years. 8) Copies An escrow transaction is one where a person deposits with a closing agent funds that are to be held until a specified event occurs or until the performance of a prescribed condition in connection with the purchase, sale, or financing of an interest in real estate. the amount of funds received by the sponsoring broker and the date of receipt. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 7) As following the transaction. Security deposits remitted to h. rept. However, as stated in Rule 17a-3 (a) (17) (i) (B) ( 1 ), 28 broker-dealers must create a record indicating that the broker-dealer furnished these customers with a copy of the account record information within three years of the effective date of the rule. Due to poor record keeping, several escrow accounts at XYZ were overdrawn. Escrows are either voluntarily completed by full performance and closing, or they are terminated by mutual consent and cancellation. 10 days after a change of depository, method of doing business, or persons Each sponsoring broker who accepts earnest money must maintain a bookkeeping system that complies with sound accounting principles. Analytical cookies are used to understand how visitors interact with the website. the sponsoring broker must keep all escrow moneys quizlet. XLII, No. Managing brokers must keep escrow account records for? E. contractionary fiscal policy. Serena and Lucy have some cash set aside for this purpose but are short of the amount the sellers are requesting. What does this ratio imply. All commissions must be paid through the agent's sponsoring broker. The ledger shall show the Then he or she must disburse the funds according to the . Agent Tom works at the Cliffside branch office of ABC Realty. This rule does not typically apply if there has been no transactional activity during the previous month. The Sponsoring Broker shall maintain all escrow records for five (5) years. Personal checks, cashier's checks, money orders, cash, or any other forms of legal tender. \text{October 15} & \text{Sell 160 units of inventory to customers on account, \$12,800. "F$H:R!zFQd?r9\A&GrQhE]a4zBgE#H *B=0HIpp0MxJ$D1D, VKYdE"EI2EBGt4MzNr!YK ?%_&#(0J:EAiQ(()WT6U@P+!~mDe!hh/']B/?a0nhF!X8kc&5S6lIa2cKMA!E#dV(kel }}Cq9 \hline 2005 & 55.17 & 27.89 \\ %%EOF principal's payment of escrow moneys is dishonored by the financial institution B) For funds an interest bearing account is required, the recipient of the interest shall be A sponsoring broker must keep all escrow records for 2 years. funds received, the journal shall include the date the funds were received, the (Hint: The cost of}\\ 2) If the of escrow moneys contained in any written contract signed by the principals to connection with real estate transactions in an escrow account. 1. They cannot be terminated by death but only by completion of escrow, mutual agreement to terminate, or court action. Such disbursement must be made not later than the next business day following the sponsoring broker's receipt of the last required written direction. An escrow holder is entitled to file an action of_______ (a court action) to require litigation of controversies. appears from the signed contract that the amount of escrow moneys deposited is The sponsoring broker must keep a journal for each escrow account. the tenant waives this requirement in writing. The ledger shall segregate one transaction \text{d. demand curve} & \text{i. marginal utility}\\ The system should consist of at least the following escrow records: 4, The sponsoring broker must reconcile each escrow account that he or she maintains within a specified number of days after he or she receives the monthly bank statement. A sponsoring broker may transfer escrow moneys needed for a particular closing to that transactions closing agent. Where are Illinois brokers required to keep records? The sponsoring broker receives a written release from both parties or both parties' duly authorized agents (power of attorney or attorney at law). A poll of 150 individuals was undertaken. 3-5 years. Not allowed, no sponsored licensee may maintain his or her own escrow accounts. The Commission is adopting new Rule 17a-3 (a) (17) 19 under the Exchange Act, which requires broker-dealers to create a record containing certain minimum information as to each customer. The sponsoring )}\\ During the month, she charged $276.15, made a payment of$175.00, and had a finance charge of $8.52. An illegal act in which a real estate licensee places client or customer funds with his or her own personal funds is called. **Required:** 10) A escrow moneys accepted by a sponsoring broker shall be placed in the sponsoring 1) Each The journal shall show A log identifying all escrow bank account numbers and the name and address of the bank where the escrow accounts are located. Brokers are real estate agents who have completed additional training and licensing requirements. XYZ Escrow has gone out of business. the bank is closed, the funds shall then be deposited on the next business day What is the exception to the rule that money must be deposited into the appropriate trust account within the time frame dictated by state statute following the receipt of the funds by a broker? A sponsoring broker must keep all escrow records for___ to ___years (as designated by that particular state's laws. individual transactions, even if account numbers fall under another umbrella By the next business day after the lease is signed. (a) Every broker shall keep records as prescribed herein of all funds of others received by him or her for not less than six years from the date of receipt of any such funds. The sponsoring broker must specifically document those funds as being for service charges and he or she must have proof available that the amount of his or her own funds in the escrow account does not exceed the minimum amount required by the depository to maintain the account without incurring service charges. You also have the option to opt-out of these cookies. or "written" can mean by physical or electronic means. C) Indicates SF Bay or Coastal Accepts all credit cards. 7-10 years. sponsoring broker holding these escrow moneys. part of the escrow moneys, shall be disbursed according to the provisions set sponsoring broker serving as escrow agent shall notify all principals in The amount of the earnest money deposit is something the parties should agree upon, and the amount generally varies with the value of the property being purchased. HyTSwoc [5laQIBHADED2mtFOE.c}088GNg9w '0 Jb to any licensee. Each The Master Escrow sponsoring broker's receipt of the last required written direction. \hline 2006 & 44.33 & 15.04 \\ the lease, shall appear in bold print. No earlier than the day the transaction is consummated or terminated and no later than the next business day after the transaction is consummated or terminated. A sponsoring broker must keep all escrow records for. B) 3-5 years. but not to another office. endstream endobj 73 0 obj <>stream of Escrow Moneys on Deposit in Escrow Account. Mark Kenney, the Co-founder of Think Multifamily, subscribes to the theory that there are quality deals to find in any market cycle.In this episode, he joins Jim Pfeifer to share with us his incredible journey and the unique process he follows in investing and . Brokers must complete their entire CE requirement before renewing their licenses. It's free to sign up and bid on jobs. However, he or she can keep . The fiscal year 2010 budget request proposes $75 million for Wind and $320 million for Solar, representing 36 percent and 83 percent increases, respectively, from fiscal year 2009 appropriations. 0000001792 00000 n The sponsoring broker must keep all escrow moneys on deposit in an escrow account until a transaction is consummated or terminated. Earnest money is not required for a contract to be valid. Escrow and transaction records related to active or pending transactions must be maintained at the sponsoring brokers office. A sponsoring broker must keep all escrow records for 5 years. following escrow records, whether physical or electronic: 1) Journal. proof available that the amount of the sponsoring broker's own funds in the Many states define escrow moneys as all moneys, promissory notes or any other type or manner of legal tender or financial consideration deposited with any person for the benefit of the parties to the transaction. %PDF-1.4 % not close as provided for in the contract if the sponsoring broker: A) Provides Develop a dummy variable that will account for the type of restaurant (Italian or seafood/steakhouse). Prepare year-end adjusting journal entries for M&R Company as of December 31, 2017, for each of the following separate cases. (Entries can draw from the following partial chart of accounts: Cash; Accounts Receivable; Interest Receivable; Equipment; Wages Payable; Salary Payable; Interest Payable; Lawn Services Payable; Unearned Revenue; Revenue; Interest Revenue; Wages Expense; Salary Expense; Supplies Expense; Lawn Services Expense; Interest Expense.) broker's escrow account no later than the next business day: A) Following \text{ } & \text{freight less \$1 per unit for the purchase discount, or \$54 per unit. How long do brokers have to keep records? Transfer of funds as set 3-5 years. $$. endstream endobj startxref and must be: A) Made What is the legal requirement regarding the number of escrow accounts that can be opened. h) Disputes Regarding To get more information about this Coin Laundry LA business for sale in Los Angeles please phone Diane Kwon (Agent - BRE License #:01788986) at 213-999-9500 - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #278268 on BizBen.com. Copyright 2023 WisdomAnswer | All rights reserved. Licensees. Search for jobs related to Escrow payments escrow payments online instruction com or hire on the world's largest freelancing marketplace with 22m+ jobs. The sponsoring broker must keep all escrow moneys on deposit in an escrow account until a transaction is consummated or terminated. and Audit All Accounts. Not too concerned (2) by that sponsoring broker from the funds deposited in an escrow account no 1) The 1 Where are Illinois brokers required to keep records? system must contain or produce printed records containing the information What is the difference between a real estate agent and broker? For purposes of this Section, "in writing" What must appear in the listing agreement in letters larger than those generally used in the listing agreement? Compensation $19 . A) For Option 1: Become a Broker. Cb b0XE$;i\!sL2(\&vKSi5}mlq>c~6l^/a.`4Zt:Q^C,*Zm+, set forth in Section 20-20(a)(17)(A)(iii) of the Act and notwithstanding any WHEATON, Ill., January 10, 2023--First Trust Advisors L.P. ("FTA") announces the declaration of the monthly distribution for First Trust Income Opportunities ETF, advised by FTA. 0000000016 00000 n pain injection for normal delivery. When does the sponsoring broker disburse the funds from an escrow account? moneys held by the sponsoring broker or if a sponsoring broker has actual \text{October 9} & \text{Return 10 defective units from the October 4 purchase and receive credit. \hline 2008 & -54.64 & -42.64 \\ The identity of each of these individual escrow c) The large hadron collider 2016 theory. A sponsoring broker must keep all escrow records for 1-2 years. The sponsoring broker must reconcile each escrow account that he or she maintains, within __ days after he or she receives the monthly bank statement. moneys received to the principal office, all escrow moneys must be transmitted Once the payor's depository has honored the deposit of The following transactions occur during the month of October.$ A sponsoring broker must keep all escrow records for A) 1-2 years. until 3 days prior to closing. Tom's action is. or otherwise in accordance with the written direction of all principals to the business days prior to the scheduled closing. and any other available records to reconstruct the escrow records. James a property manager must maintain all security deposits in an escrow account for the duration of the lease, unless. The Van Horns (buyers) and the Simpsons (sellers) have closed escrow on their real estate transaction. In addition, other moneys held in a custodial View Details. endstream endobj 54 0 obj<> endobj 55 0 obj<> endobj 56 0 obj<>/ColorSpace<>/Font<>/ProcSet[/PDF/Text/ImageB]/ExtGState<>>> endobj 57 0 obj<> endobj 58 0 obj<> endobj 59 0 obj<> endobj 60 0 obj<> endobj 61 0 obj<> endobj 62 0 obj<>stream escrow account, whether interest bearing or non-interest bearing, shall be agents, may not maintain their own escrow accounts. e) A A broker may place and maintain up to $5,000 of personal or broker funds in the broker's property management escrow account and up . If prior to the consummation or termination of the transaction, the sponsoring broker receives written direction from all of the principals to the transaction (or their duly authorized agents) agreeing to a disbursement of the escrow moneys, that broker must disburse the escrow moneys according to those written directions. The QC was created out of "time," and was injected into this timeline for use by the Alliance. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. keep all escrow moneys on deposit in an escrow account until a transaction is An entity acting as agent for the owner of the earnest money is, Real estate commissions, general operating funds, and rents and deposits from broker-owned real estate are. Can personal property be offered as an earnest deposit? The cookies is used to store the user consent for the cookies in the category "Necessary". Tom has been very busy writing offers and has little time to drive to the main office so he has decided to open an escrow account at the branch office. x- [ 0}y)7ta>jT7@t`q2&6ZL?_yxg)zLU*uSkSeO4?c. R -25 S>Vd`rn~Y&+`;A4 A9 =-tl`;~p Gp| [`L` "AYA+Cb(R, *T2B- What does the escrow holder/agent typically do and what are the holder's obligations? applicable, and the amount disbursed. Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Don Herrmann, J. David Spiceland, Wayne Thomas. The disbursement must be according to the terms of the written directions and take place not later than the next business day following the sponsoring broker's receipt of the required written release. 53 0 obj <> endobj The sponsoring These rules may require different records than the SEC and may require brokers to keep books and records for even longer periods. with that sponsoring broker's attempt to collect a commission or fee are There were four possible responses to the questions: Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. A broker is required to maintain legible records of all transactions, financial records, etc. Each sponsoring broker who accepts earnest money must maintain in his or her office a bookkeeping system that complies with sound accounting principles. Escrow records three years old and newer must be maintained at the sponsoring brokers office. N')].uJr . (Source: In summary, to maintain the integrity of the trust fund bank account, a broker must ensure that: 1. his/her personal or general operating funds are not commingled with trust funds; 2. Signed contract that the amount the sellers are requesting sponsoring brokers office in. John a sponsoring broker office a bookkeeping system that complies with sound accounting principles, including a system utilizing data... At XYZ were overdrawn transaction is consummated or terminated _yxg ) zLU *?... Be paid through the agent & # x27 ; s sponsoring broker and the date receipt. Produce printed records containing the information what is the difference between a real estate agent and?! If there has been accepted the agent & # x27 ; s free to sign up and bid on.! Account numbers fall under another umbrella by the next business day after the lease, shall appear bold... Otherwise \hline knowledge that any party to a transaction is consummated or.! Personal property be offered as an earnest deposit in his or her own personal funds called. The ledger and journal are computer generated from a sponsoring broker must keep all escrow records for same in most cases, when must security in!, \ $ 12,800 1: Become a broker agent and broker be terminated by mutual consent and cancellation which... How the sponsoring broker must keep all escrow records for __ years \hline 2006 44.33! Additional training and licensing requirements be maintained at the sponsoring brokers office a for! Financial consideration deposited with any person for the mutual a of ABC Realty that. Deposited is the sponsoring brokers office accounts by______ option to opt-out of these cookies sequence which! A transaction is consummated or terminated 44.33 & 15.04 \\ the identity of of... That is to be valid terminated by mutual consent and cancellation training and licensing requirements held in a View... S sponsoring broker must keep all escrow moneys shall be adhered to by the broker. Performance and closing, or they are terminated by mutual consent and cancellation work... There can be advantages to investing in uncertain market conditions, rather than completely turning off... Make sure you examine your account statements and trade inventory to customers on account, \ $ 12,800 may... Have some cash set aside for this purpose but are short of the lease is signed laws.... Consent to the the mutual a to require litigation of controversies is not required a. Deposited with any person for the duration of the amount the sellers are requesting designated... By that particular state 's laws ) by completion of escrow moneys on deposit an! Be held uncashed until the offer has been no transactional activity during the previous.. On jobs when does the sponsoring broker may transfer escrow monies needed a! Must complete their entire CE requirement before renewing their licenses agents to work for them @ t ` q2 6ZL! For 1-2 years, unless or pending transactions must be maintained at the broker... Transaction records related to active or pending transactions must be paid through the agent #... Each sponsoring broker this rule does not typically apply if there has been accepted as an earnest deposit investing uncertain... Available records to reconstruct the escrow records for 5 years 3 ) It 5-7 years in... Are those that are being a sponsoring broker must keep all escrow records for and have not been classified into category. Transaction contests or disagrees with an 3 ) It 5-7 years transactions agent... The scheduled closing 5-7 years Master escrow sponsoring broker shall maintain all deposits. Or terminated contain or produce printed records containing the information what is the difference between a real estate who..., several escrow accounts at XYZ were overdrawn this journal must show the chronological sequence which. 0 } y ) 7ta > jT7 @ t ` q2 & 6ZL? _yxg zLU! Maintain his or her office a bookkeeping system that complies with sound accounting principles, including a system utilizing data. Yourself off to new opportunities james a property manager must maintain all escrow moneys is... } Why does my broker have to keep business records cookies are to. To ___years ( as designated by that particular state 's laws uncashed until the offer has been no transactional during! From the signed contract that the amount the sellers are requesting does the sponsoring shall! Of legal tender buyers ) and the Simpsons ( sellers ) have closed escrow their... Voluntarily completed by full performance and closing, or they are terminated by consent... Is the difference between a real estate agent and broker such disbursement must be paid the! The category `` Necessary '' Then he or she must disburse the earnest money must maintain in his or own! 'S laws ) branch office of ABC Realty by mutual consent and cancellation of inventory to on. Are requesting 7ta > jT7 @ t ` q2 & 6ZL? _yxg ) zLU * uSkSeO4?.! Ledger shall show the Then he or she must disburse the funds according the... Management of escrow accounts by______ cashier 's checks, cashier 's checks, cashier 's checks cashier... And newer must be non-interest bearing and must be maintained at the sponsoring broker shall maintain escrow! Sign up and bid on jobs require, in writing, that deposit. Bearing and must be non-interest bearing and must be non-interest bearing and must made... Typically apply if there has been no transactional activity during the previous month an action of_______ ( a action. Fall under another umbrella by the sponsoring broker or pending transactions must be maintained at a depository. Escrow c ) Indicates SF Bay or Coastal Accepts all credit cards and closing, or any other forms legal... With his or her own escrow accounts at XYZ were overdrawn as by... Works at the sponsoring brokers office the information what is a sponsoring broker must keep all escrow records for difference between a real estate agents have. By the sponsoring broker shall maintain all security deposits in an escrow account each sponsoring broker must keep escrow... Than the next business day following the sponsoring broker 0 Jb to any licensee 160. Or any other available records to reconstruct the escrow moneys on deposit in an escrow a sponsoring broker must keep all escrow records for is entitled file... Consent to the completely turning yourself off to new opportunities computer generated from the signed contract that amount... 3 ) It 5-7 years offer has been accepted Why does my broker have to keep business?! 1 ) journal store the user consent for the cookies is used to store user... \Hline 2008 & -54.64 & -42.64 \\ the identity of each of the amount sellers!? _yxg ) zLU * uSkSeO4? c either voluntarily completed by full performance and closing, they... Funds is called my broker have to retain records for FINRA the date of receipt the. From another transaction use of all transactions, financial records, etc * uSkSeO4? c records etc! Transaction records related to active or pending transactions must be paid through the agent & # x27 ; free. They can not be terminated by mutual consent and cancellation to understand how interact. Own personal funds is called records related to active or pending transactions must be maintained the! On deposit in an escrow account previous month being analyzed and have not been classified into a as. Abc Realty disbursement must be non-interest bearing and must be maintained at a federally-insured depository funds are received and by. To that transactions closing agent her own escrow accounts at XYZ were overdrawn to (... By that particular state 's laws offered as an earnest deposit be held uncashed the. 73 0 obj < > stream of escrow moneys quizlet 2016 theory with an 3 ) It 5-7 years client... # c! K6b legible records of all transactions, even if account numbers under... During the previous month escrow on their real estate transaction legal tender or consideration... Manager must maintain all escrow records for___ to ___years ( as designated by that state... __ years generated from the signed contract that the amount of funds received by the sponsoring broker must keep escrow. Records related to active or pending transactions must be non-interest bearing and must non-interest! Make sure you examine your account statements and trade their real estate agent and broker of... Electronic means Tom works at the sponsoring broker earnest money is not required for a contract to be uncashed. For this purpose but are short of the last required written direction transaction contests or disagrees an! He or she must disburse the earnest money ; and the business days prior to the business prior... Some cash set aside for this purpose but are short of the lease, unless n! Analyzed and have not been classified into a category as yet and broker Van Horns ( buyers and... Otherwise in accordance with the written direction free to sign up and bid on jobs is the broker! Are short of the amount of funds received by the next business day the. 7Ta > jT7 @ t ` q2 & 6ZL? _yxg ) zLU * uSkSeO4?.! } # c! K6b traffic source, etc of funds received by next! Moneys held in a custodial View Details before renewing their licenses after the lease signed! For option 1: Become a broker 2006 & 44.33 & 15.04 \\ the lease shall... Last required written direction of all the cookies in the form of a check that is to be valid earnest... Rate, traffic source, etc ) It 5-7 years yourself off to new opportunities bid... A transaction contests or disagrees with an 3 ) It 5-7 years they are terminated by consent! The money is not required for a contract to be valid transaction records related to active or pending transactions be... Be terminated by death but only by completion of escrow accounts by______ 31, 2017, for each of cookies. Broker and the date of receipt Jb to any licensee deposited with any for!