South Dakota License Law
Under South Dakota law, what must a licensee do when they receive earnest money?
ADeposit it in the broker's operating account within 3 days
BDeposit it in a trust/escrow account promptly as required by SDREC rules✓ Correct
CHold it personally until closing
DGive it directly to the seller immediately
Explanation
South Dakota requires earnest money to be deposited promptly into a properly maintained trust or escrow account, separate from the broker's personal and business funds.
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