R4-28-B1210. Earnest Money

The Department may require a developer to deposit earnest money and down payments in a neutral depository based on revocation of a prior public report or specific knowledge of the developer’s failure to meet prior public report obligations. The developer shall deposit earnest money and down payments in a neutral depository if: 1. The seller is in bankruptcy, or; 2. The sale is conditional pursuant to R4-28-B1202.