Agency
In New Mexico, an agent who receives an earnest money check from a buyer must NOT:
ATurn it over promptly to their qualifying broker
BDeposit it into their personal bank account✓ Correct
CMake a copy of the check for transaction records
DInform the seller's agent of receipt
Explanation
Agents must turn over earnest money to their qualifying broker promptly for deposit in the trust account. Depositing client funds in a personal account is commingling—a serious violation of New Mexico license law.
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