Advance of fees from escrow account to pay incidental fees

Sec. 10. A closing agent may advance an amount not to exceed five hundred dollars ($500) from an escrow account on behalf of a party to an escrow transaction for the purpose of paying incidental fees, including conveyance and recording fees. Incidental fees may be paid in order to: (1) effect and close the sale of; (2) purchase; (3) exchange; (4) transfer; (5) encumber; or (6) lease; real property that is the subject of the escrow transaction. As added by P.L.92-2009, SEC.1.