IC 27-7-3.7-2: "Escrow account"

Sec. 2. As used in this chapter, "escrow account" means a checking account established by a closing agent with a:

(1) bank;

(2) savings and loan association;

(3) credit union; or

(4) savings bank;

that is chartered under the laws of a state or the United States and used exclusively for the deposit and disbursement of funds for an escrow transaction.