What must the department do upon receipt of a notice regarding an escrow opening?

When a notice regarding an escrow opening is received, the department is required to invoke a 120-day moratorium on other agreements. This moratorium is essential as it allows the department to monitor the situation and prevent any potential complications from arising due to concurrent agreements that could affect the escrow process.

This period serves as a safeguard to ensure that all interested parties have a chance to address their concerns, review the terms of the escrow, and ensure compliance with all regulatory requirements. Such measures help maintain transparency and order in transactions involving manufactured homes, protecting both the dealers and the consumers against potential disputes or issues that could arise if multiple agreements were in effect simultaneously.

The other options, while they may seem relevant, do not align with the procedural requirements set forth by the department regarding escrow activities.