New Mexico License Law
A New Mexico qualifying broker who receives an earnest money check must deposit it:
AIn the brokerage's operating account
BIn a separate, properly maintained real estate trust account✓ Correct
CIn a personal savings account for safekeeping
DOnly after the offer is accepted
Explanation
New Mexico law requires all client funds (including earnest money) to be held in a separate real estate trust account, completely segregated from the broker's operating and personal accounts.
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