Colorado License Law
A Colorado broker who receives an earnest money check on a Friday afternoon should deposit it into trust by:
AThe following Monday morning
BWithin 3 banking business days (by Wednesday, assuming no holidays)✓ Correct
CThe following Friday
DOnly after the inspection period ends
Explanation
Colorado Commission rules require earnest money deposits to be made within 3 banking business days of receipt. If received Friday, the 3-business-day clock begins the next banking day (Monday), so deposit is due by Wednesday.
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