Sec. 12. A seller may not require a payment before the delivery of any goods that exceeds twenty percent (20%) of the initial payment unless the amount in excess of the twenty percent (20%) payment is placed in an escrow account which provides that the money can not be released until:
(1) the investor notifies the escrow agent in writing of the receipt of the goods; or
(2) the seller presents to the escrow agent a bill of lading that proves shipment of the goods as required by the contract.
Notification of receipt by the investor to the escrow agent may not be unreasonably withheld.