523A.403 Purchase agreements funded by certificates of deposit.
1. A purchase agreement may be funded by proceeds derived from a certificate of deposit in the name of the purchaser made payable to the seller upon the purchaser’s death.
2. The seller of a purchase agreement subject to this chapter which is to be funded by a certificate of deposit shall obtain all permits required to be obtained and comply with all reporting requirements under this chapter, implementing rules, and orders.
2001 Acts, ch 118, §30
Referred to in §523A.201, 523A.203, 523A.807