Contracts
In Rhode Island, earnest money held by a real estate broker must be deposited into:
AThe broker's personal checking account
BThe broker's business operating account
CA separate escrow or trust account✓ Correct
DThe seller's account directly
Explanation
Rhode Island law requires that earnest money deposits received by a broker be placed in a separate escrow or trust account, kept separate from the broker's personal and business operating funds.
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