Florida License Law
A Florida broker receives a check for earnest money on a Friday afternoon. The three-day clock to deposit the check into escrow starts:
AImmediately upon receipt
BOn the next business day (Saturday and Sunday are not business days)✓ Correct
COn the following Monday at midnight
DOnly after the contract is signed by both parties
Explanation
The three-business-day period for depositing earnest money into escrow begins on the first business day after the broker receives the funds. Saturdays, Sundays, and legal holidays are not counted as business days.
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