Alaska License Law
Under Alaska law, trust account funds must be deposited within:
A24 hours of receipt
B3 banking days of receipt✓ Correct
C5 business days of receipt
DThe same business day as receipt
Explanation
Alaska requires that trust account funds (such as earnest money) be deposited within 3 banking days of receipt. Failure to timely deposit trust funds can result in disciplinary action for commingling or conversion of client funds.
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Key Terms to Know
Math Concepts
State-Specific Concepts
Trust Account Rules
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