{"data":{"id":"us-pa/68-pa.c.s.-4410","jurisdiction":"us-pa","citation":"68 Pa.C.S. § 4410","heading":"Escrow of deposits.","body":"Any deposit, which shall not include any installment payment under an installment sales contract, made in connection with the purchase or reservation of a cooperative interest from a person required to deliver a public offering statement pursuant to section 4402(c) (relating to public offering statement; requirements) shall be placed in escrow and held in this Commonwealth by a licensed real estate broker, an attorney admitted to practice in this Commonwealth, a financial institution or a licensed title insurance company, in an account or in the form of a certificate of deposit, designated solely for that purpose with a financial institution whose accounts are insured by a governmental agency or instrumentality until:\n(1) delivered to the declarant at closing or, in the case of the sale of a cooperative interest pursuant to an installment sales contract, upon the expiration of 30 days from the date of occupancy of the unit constituting a part of the cooperative interest;\n(2) delivered to the declarant because of purchaser's default under a contract to purchase the cooperative interest; or\n(3) refunded to the purchaser.","path":["Title 68 - REAL AND PERSONAL PROPERTY","PART II REAL PROPERTY","SUBPART C COOPERATIVES","CHAPTER 44 PROTECTION OF COOPERATIVE INTEREST PURCHASERS"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=68\u0026div=0\u0026chpt=44\u0026sctn=10\u0026subsctn=0","current_through":"2026-07-28 (Statute Update stamp, 68 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:35:13Z","sha256":"0660bb3c422cc911444f8fd034edb63b0920e2fb90b6a1b3604834cc1b31e999","source_id":"us-pa","stale":false,"prev":"us-pa/68-pa.c.s.-4409","next":"us-pa/68-pa.c.s.-4411"},"notice":"GroundRules: Original legal text. Not legal advice."}