Good Funds Law definition

Good Funds Law. The parties understand that all funds to close escrow must be deposited sufficient number of days prior to the close of escrow in order to comply with Section 12413.1 of the California Insurance Code. Generally speaking,wire transferred funds may be deposited into our escrow account any time prior to the close of escrow. Cashier's checks and certified checks must be deposited into our escrow account the business day before the close of escrow.

Examples of Good Funds Law in a sentence

  • The Good Funds Law requires that Escrow Agent have confirmation of receipt of funds prior to disbursement.

  • The Good Funds Law (California Insurance Code 12413.1) mandates that Escrow Holder may not disburse funds until the funds are, in fact, available in Escrow Holder's account.

  • The balance of the purchase price, adjusted by prorations and credits allowed the parties by the Contract, shall be paid to Seller when closed, pursuant to the terms of the Illinois Good Funds Law.

  • The Good Funds Law requires that Escrow Holder have confirmation of receipt of funds prior to disbursement.

  • Georgia Good Funds Law prohibits an attorney from disbursing on any closing until it is fully funded with collected funds.

  • Under the Good Funds Law, if the Lender deposits other than cash or makes other than an electronic payment (wire transfer), Buyer may be charged an additional one (1), two (2) or three (3) days’ interest for check clearance.

Related to Good Funds Law

  • British Protected Person means a member of any class of persons declared to be British Protected Persons by Order in Council under the British Nationality Act 1981, or by virtue of the Solomon Islands Act 1978.

  • Good Funds means immediately available funds delivered by confirmed wire transfer to an account designated by the Closing Agent.

  • PPS Law means the PPSA and any amendment made at any time to the Corporations Act 2001 (Cth) or any other legislation as a consequence of the PPSA.

  • Applicable Banking Regulations means at any time the laws, regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, then applicable to Banco Santander and/or the Group including, without limitation to the generality of the foregoing, the CRD IV, the BRRD, the SRM Regulation and those regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency of the Regulator and/or the Relevant Resolution Authority then applicable to Banco Santander and/or the Group including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, in each case to the extent then in effect in the Kingdom of Spain (whether or not such regulations, requirements, guidelines or policies have the force of law and whether or not they are applied generally or specifically to Banco Santander and/or the Group).

  • written law means this Constitution and all Acts and Ordinances and subsidiary legislation for the time being in force in Singapore.

  • Fed Funds Rate means, for any period, a fluctuating interest rate (expressed as a per annum rate and rounded upwards, if necessary, to the next 1/16 of 1%) equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rates are not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by BNPLC's Parent from three Federal funds brokers of recognized standing selected by BNPLC's Parent. All determinations of the Fed Funds Rate by BNPLC's Parent shall, in the absence of clear and demonstrable error, be binding and conclusive upon NAI.

  • Judicial commitment means a commitment by a court pursuant

  • Banking Act means the UK Banking Act 2009, as amended.

  • foreign law means any law other than the law of Jersey;

  • Request for Credit Extension means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

  • Banking office means a principal office or authorized branch of a bank, out-of-state bank, national bank, association, or savings bank.

  • Administration of criminal justice means performance of any activity directly involving the

  • Eurocurrency Payment Office of the Administrative Agent shall mean, for each Foreign Currency, the office, branch, affiliate or correspondent bank of the Administrative Agent for such currency as specified from time to time by the Administrative Agent to the Company and each Lender.

  • Eurodollar Banking Day means any Banking Day on which dealings in Dollar deposits are conducted by and among banks in the Designated Eurodollar Market.

  • This law or "the law" means the Juvenile and Domestic Relations District Court Law embraced in

  • Final administrative decision means a decision by an agency

  • Hedging Transactions means, with respect to any or all of the Purchased Loans, any short sale of U.S. Treasury Securities or mortgage-related securities, futures contract (including Eurodollar futures) or options contract or any interest rate swap, cap or collar agreement or similar arrangements providing for protection against fluctuations in interest rates or the exchange of nominal interest obligations, either generally or under specific contingencies, entered into by Seller or the underlying obligor with respect to any Purchased Loan and pledged to Seller as collateral for such Purchased Loan, with one or more counterparties whose unsecured debt is rated at least AA (or its equivalent) by any Rating Agency or, with respect to any Hedging Transaction pledged to Seller as additional collateral for a Purchased Loan, such other rating requirement applicable to such Hedging Transaction set forth in the related Purchased Loan Documents or which is otherwise reasonably acceptable to Buyer; provided that Seller shall not grant or permit any liens, security interests, charges, or encumbrances with respect to any such hedging arrangements for the benefit of any Person other than Buyer.

  • Judicial Council’s Master Account means the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.

  • Qualified United States financial institution means an institution that:

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Fed Funds Effective Rate means, in respect of a day, the rate of interest (expressed as an annual rate) as published in Federal Reserve Statistical Release H.15 (519) or Reuters Screen FEDFUNDS 1 Page or Bloomberg Page FEDL01 INDEX or any substituted publication therefor, charged for federal funds (dollars in immediately available funds borrowed by banks on an overnight unsecured basis) on that day or the immediately preceding day for which it had a value, or, if not available, ascertained from any other source as the Margin Loan Provider may deem appropriate.

  • Cleared Funds means the proceeds of cheque deposits to your account, once the cheque is cleared, cash deposits and direct credits.

  • previous planning legislation means any planning legislation that is repealed by the Act or the provincial legislation;

  • Appropriate Federal Banking Agency means the “appropriate Federal banking agency” with respect to the Corporation as defined in Section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision.

  • Appropriate State Legislation means the State Employment and Skills Development Authority Act 1990.