2830.1. Interest-Bearing Trust Account.
A real estate broker, when acting as agent for a financial institution as beneficiary of a loan, may deposit and maintain
funds from or for the account of an obligor for the future payment of property taxes, assessments or insurance relating
to real property containing only a one-to-four family residence, in an interest-bearing trust account in a bank or savings
and loan association in order to pay interest to the obligor in accordance with Section 2954.8 of the Civil Code if the
following requirements are met:
(a) The account is in the name of the broker as trustee.
(b) All of the funds in the account are covered by insurance provided by an agency of the federal government.
(c) All of the funds in the account are funds held in trust by the broker for others.
(d) The broker discloses to the obligor how interest will be calculated and paid.
(e) No interest earned on the funds shall inure directly or indirectly to the benefit of the broker nor to any person licensed
to the broker.