California housing & land-use law
10 CCR § 2830.1. Interest Bearing Trust Account.
Title 10, California Code of Regulations (real estate), as enacted — this section's verbatim text. The library holds selected sections of this code, not the whole code.
- Edition
- 2026-09-23 official publisher snapshot
- Effective
- 1985-02-08
- Last updated
- 2026-09-26
- Jurisdiction
- California
§ 2830.1¶
Interest Bearing Trust Account.
A real estate broker, when acting as agent for a financial institution as beneficiary of a loan, may deposit and maintain funds from or for the account of an obligor for the future payment of property taxes, assessments or insurance relating to real property containing only a one-to-four family residence, in an interest-bearing trust account in a bank or savings and loan association in order to pay interest to the obligor in accordance with Section 2954.8 of the Civil Code if the following requirements are met:
(a) The account is in the name of the broker as trustee.
(b) All of the funds in the account are covered by insurance provided by an agency of the federal government.
(c) All of the funds in the account are funds held in trust by the broker for others.
(d) The broker discloses to the obligor how interest will be calculated and paid.
(e) No interest earned on the funds shall inure directly or indirectly to the benefit of the broker nor to any person licensed to the broker.
Official source: § 2830.1. Interest Bearing Trust Account..
Source snapshot retrieved: 2026-09-23T18:12:46.612Z.
- Repealer and new section filed 1-9-85; effective thirtieth day thereafter (Register 85, No. 2).
Version dates (indexing metadata): Effective 1985-02-08.
Date derivation (indexing metadata): This is the current publisher text. The filing history states: "3. Repealer and new section filed 1-9-85; effective thirtieth day thereafter (Register 85, No. 2)." The indexing start is therefore 1985-02-08. No earlier version is represented.