South Carolina License Law
In South Carolina, a licensee who receives an earnest money deposit must deposit it into a trust account:
AWithin 3 banking days of receiving it✓ Correct
BAt the end of the month
COnly after the contract is finalized
DWithin 24 hours of receipt
Explanation
South Carolina requires that earnest money deposits be placed in the broker's trust account within 3 banking days of receipt. Failure to timely deposit trust funds is a serious violation.
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