{"data":{"id":"us-in/ic-24-5-8-12","jurisdiction":"us-in","citation":"IC 24-5-8-12","heading":"Escrow accounts","body":"Sec. 12. A seller may not require a payment before the delivery of any goods that exceeds twenty percent (20%) of the initial payment unless the amount in excess of the twenty percent (20%) payment is placed in an escrow account which provides that the money can not be released until:\n(1) the investor notifies the escrow agent in writing of the receipt of the goods; or\n(2) the seller presents to the escrow agent a bill of lading that proves shipment of the goods as required by the contract.\nNotification of receipt by the investor to the escrow agent may not be unreasonably withheld.","path":["TITLE 24. TRADE REGULATION","ARTICLE 5. CONSUMER SALES","Chapter 8. Business Opportunity Transactions"],"source_url":"https://iga.in.gov/ic/2026/Title_24.html#24-5-8-12","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-04T18:50:41Z","sha256":"4783e0178e57dcba6a5c605f8cad846d0126c9a10b12e215865257b9d346a2cb","source_id":"us-in","stale":false,"prev":"us-in/ic-24-5-8-11","next":"us-in/ic-24-5-8-13"},"notice":"GroundRules: Original legal text. Not legal advice."}