Florida License Law
Under FREC rules, a Florida broker who receives earnest money must deposit it in the escrow account within:
AImmediately at receipt✓ Correct
BEnd of the next business day
C3 business days
D5 business days
Explanation
Florida law requires that a broker deposit trust funds (earnest money) into an escrow account no later than the end of 3 business days following receipt of the funds.
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