Virginia License Law
A Virginia broker who receives earnest money must deposit it in a trust account within:
AThe same business day as receipt
B3 business days of receipt or contract ratification, whichever is later✓ Correct
C5 business days
D7 calendar days
Explanation
Virginia VREB regulations require brokers to deposit earnest money in a trust account within 3 business days of receipt or ratification of the contract, whichever is later.
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