- (a) The funds in the escrow account shall be used only for the purposes of remedying the hazardous condition.
- (b) The amount of the escrow account shall be the estimated cost of correcting the hazardous condition or $5,000 whichever is greater.
- (c) The escrow account is to be established by the related institution at an authorized financial institution selected by the related institution.
- (d) Current operating funds may not be used to establish the escrow account.
Added by Acts 1984, c. 639, § 1, eff. July 1, 1984.