Contracts
In Utah, earnest money must be deposited into the broker's trust account within:
A24 hours of receipt
B3 business days of receipt✓ Correct
C5 calendar days of acceptance of the contract
D10 days of contract execution
Explanation
Utah rules require that earnest money be deposited into the principal broker's trust account within 3 business days of receipt. Failure to do so can result in disciplinary action against the licensee.
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