Florida License Law
A Florida buyer gives a personal check for $10,000 as earnest money. The listing broker holds the check at the buyer's request until the offer is accepted. Upon acceptance, the broker must deposit the check:
AImmediately the same day acceptance occurs
BWithin 3 business days of the acceptance date✓ Correct
CBy the end of the next business day after acceptance
DWithin 5 business days of contract execution
Explanation
Under Florida Rule 61J2-14.010, a broker must place all escrow funds received in connection with a contract into an escrow account no later than 3 business days following the receipt of the funds.
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