Property Management
A North Dakota property manager who deposits rent checks more than one week after receipt into the trust account is likely:
AComplying with all requirements since a week is reasonable
BIn violation of trust account requirements requiring prompt deposit of client funds✓ Correct
CPermitted since electronic deposits can be delayed
DFollowing standard industry practice
Explanation
Trust funds must be deposited promptly. North Dakota rules require that all funds received on behalf of clients be deposited into the trust account within a reasonable time, typically within 1-3 business days.
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