Arkansas License Law
Under AREC rules, trust funds (escrow money) must be:
ADeposited in the broker's personal account for safekeeping
BPlaced in a separate, federally insured trust or escrow account✓ Correct
CHeld in cash in the broker's office safe
DTransferred to the title company the day the contract is signed
Explanation
AREC requires all trust funds to be deposited in a separate, federally insured trust or escrow account and never commingled with the broker's personal or operating funds.
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