For the Rhode Island state portion, how should a candidate analyze funds are designated for escrow in a purchase and sale agreement?
Correct Answer
C) The funds must be deposited promptly after execution of the purchase and sales agreement
230-RICR-30-20-2 § 2.18 requires funds designated for escrow to be deposited promptly after execution of the purchase and sales agreement. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 §§ 2.18-2.19 and R.I. Gen. Laws § 5-20.5-26; checked 2026-04-30.
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