Good Funds Law definition

Good Funds Law. The parties understand that all funds to close escrow must be deposited sufficient number of days prior to the close of escrow in order to comply with Section 12413.1 of the California Insurance Code. Generally speaking,wire transferred funds may be deposited into our escrow account any time prior to the close of escrow. Cashier's checks and certified checks must be deposited into our escrow account the business day before the close of escrow.
Sample 1

Examples of Good Funds Law in a sentence

  • The Good Funds Law requires that Escrow Agent have confirmation of receipt of funds prior to disbursement.

  • The Good Funds Law (California Insurance Code 12413.1) mandates that Escrow Holder may not disburse funds until the funds are, in fact, available in Escrow Holder's account.

  • The Good Funds Law requires that Escrow Holder have confirmation of receipt of funds prior to disbursement.

Related to Good Funds Law

  • Good Funds means immediately available funds delivered by confirmed wire transfer to an account designated by the Closing Agent.

  • PPS Law means the PPSA and any amendment made at any time to the Corporations Act 2001 (Cth) or any other legislation as a consequence of the PPSA.

  • good faith means that degree of diligence which a reasonable person would exercise in the performance of legal duties and obligations;

  • Banking Act means the UK Banking Act 2009, as amended.

  • foreign law means any law other than the law of Jersey;

  • New York Federal Reserve’s Website means the website of the New York Federal Reserve, currently at http://www.newyorkfed.org, or any successor source.

  • Eurocurrency Lending Office means, with respect to any Lender, the office of such Lender specified as its “Eurocurrency Lending Office” in its Administrative Questionnaire delivered to the Agent, or such other office of such Lender as such Lender may from time to time specify to the Borrower and the Agent.

  • Hedging Transactions means any transactions or assets the Issuer or any of its affiliates (in the meaning of § 1 paragraph 7 German Banking Act (KWG), § 290 paragraph 2 German Commercial Law (HGB)) may have entered into or purchased in order to hedge the risk of entering into and performing its obligations with respect to the Certificates.

  • Qualified United States financial institution means an institution that:

  • Cleared Funds means the proceeds of cheque deposits to your account, once the cheque is cleared, cash deposits and direct credits.

  • the 1985 Act means the Companies Act 1985;

  • customs law means all the statutory provisions applied by the customs administration on the importation, exportation, transit or movement of goods whether or not they involve the collection of duties or taxes (or security thereof), on the enforcement of prohibitions, restrictions or control or exchange control regulations or on any other customs regime;

  • Interpretation Act means the Interpretation Act (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act;

  • Auditing Profession Act ’ means the Auditing Profession Act, 2005 (Act No. 26 of 2005);