Tennessee License Law
A Tennessee licensee who receives an earnest money check must deliver it to the principal broker's trust account:
AWithin 24 hours of receipt
BBy the end of the third business day after acceptance of the contract✓ Correct
COn the closing date
DWithin 7 calendar days of the contract execution
Explanation
Tennessee requires that earnest money be deposited in the principal broker's escrow trust account by the end of the third business day following contract acceptance. Delayed deposit can be a TREC violation.
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