§ 31A-26-404. Funds that a public adjuster holds.

A public adjuster that receives, accepts, or holds funds on behalf of an insured shall deposit the funds into a trust account within a federally insured depository institution that: (1) (a) has a branch in this state, if the public adjuster depositing the money is a resident licensee; (b) has a branch in the public adjuster's home state, if the public adjuster is a nonresident licensee; or (c) has a branch where the loss occurred; and (2) the depository institution's primary regulator authorizes to engage in trust business.