Maryland License Law
In Maryland, a real estate licensee who receives an earnest money check must:
AHold it uncashed until the offer is accepted
BFollow the terms of the contract and their broker's escrow procedures for holding and depositing funds✓ Correct
CDeposit it immediately regardless of acceptance
DForward it to MREC for safekeeping
Explanation
Maryland licensees must follow both the contract terms and their broker's established escrow procedures for handling earnest money, which typically specify when funds must be deposited.
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