Trust Funds
A broker receives a $5,000 earnest money deposit on a Friday at 5 PM. The three-business-day deposit deadline would be:
ASaturday (next day)
BSunday
CThe following Wednesday✓ Correct
DThe following Monday
Explanation
The three-business-day clock starts the day after receipt. Weekends and federal holidays do not count as business days. Received Friday: Day 1 = Monday, Day 2 = Tuesday, Day 3 = Wednesday. Deposit is due by Wednesday.
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