Delaware License Law
A Delaware licensee receives an earnest money check. Under Commission rules, how quickly must it be deposited into the trust account?
ASame business day
BWithin 3 business days of receipt or as specified in the contract✓ Correct
CWithin 7 days of contract execution
DNot until after all contingencies are removed
Explanation
Delaware requires earnest money deposits to be placed in the broker's trust account within a reasonable period (typically 3 business days) of receipt, or as specified in the purchase contract.
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