Whenever the Director shall deem it necessary in the public interest the Director may require that the proceeds of sale of the securities of an issuer be held intact until such proceeds aggregate a fixed amount and that such proceeds be held intact under an appropriate agreement of escrow with a bank or trust company approved by the Director.
Del. Code tit. 6, §§ 73-603
Escrow of funds
Known as the Delaware Securities Act
The act spans §§ 6-73-101 to 6-73-704 (38 sections).
6 Del
Official source: Delaware Code Online. Reproduced from public-domain Delaware statutes; confirm against the official source for the current text. Not legal advice.