The funds provided by a mortgagee to fund a loan secured by real estate at a real estate closing shall be in the form of:

1. I. Cash;
2. II. Wired funds or electronic transfer;
3. III. Certified check;
4. IV. Checks issued by a governmental entity or instrumentality;
5. V. Any transfer of funds by check or otherwise that are finally collected and unconditionally available to the settlement agent;
6. VI. Checks or other drafts drawn by a state-chartered or federally-chartered financial institution;
7. VII. Checks or other drafts drawn by a state-chartered or federally-chartered credit union;
8. VIII. Checks issued by an insurance company licensed and regulated by the department of insurance; or
9. IX. Cashier's check, teller's check, or treasurer's check.

Source. 1999, 88:3, eff. Jan. 1, 2000.