779.87 – Escrow account or bond requirement.

779.87 Escrow account or bond requirement. (1) Requirement. A seller who enters a regulated prepaid maintenance agreement shall either maintain an escrow account or maintain a bond. (2) Escrow account. (a) Surety. If a seller maintains an escrow account, all proceeds received under any regulated prepaid maintenance agreement shall be deposited in the escrow account […]