New Mexico License Law
Under NMREC rules, a New Mexico broker receives an earnest money check. The broker must deposit it into a trust account within:
A7 calendar days
B3 business days✓ Correct
C10 business days
D30 days
Explanation
NMREC rules require earnest money and other client funds to be deposited into a designated trust account promptly — within 3 business days of receipt, preventing commingling with the broker's own funds.
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