Arizona § 6-840 - Prohibitions; definitions
Full text of Arizona Arizona Revised Statutes § 6-840 — Prohibitions; definitions, with citation guidance and answers to common questions.
§ 6-840. Prohibitions; definitions
A. An escrow agent shall not accept any escrow in which a participant in the escrow is an affiliate of the escrow agent unless:
1. The affiliation is disclosed to all nonaffiliated participants in writing by the escrow agent.
2. Use of the affiliated escrow agent is not required by the affiliate as a condition of making a loan or entering into any other agreement with the nonaffiliated participants.
B. For the purpose of this section:
1. "Controlled escrow business" means the handling of an escrow by an escrow agent where an affiliate of the escrow agent is a participant in the escrow transaction.
2. "Participant" means the buyer, seller, lender, mortgage broker, mortgage banker, real estate broker or real estate salesman or any person who is a party to the escrow transaction.
Frequently Asked Questions About Arizona § 6-840
What does Arizona Revised Statutes § 6-840 cover?
Section 6-840 ("Prohibitions; definitions") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 6-840?
A common citation format is "Arizona Revised Statutes § 6-840" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 6-840 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.