In Rhode Island, parties dispute ownership of deposit money received by a broker or salesperson. Which statement is correct?
Correct Answer
A) The broker or salesperson must deposit the money with the General Treasurer within 180 days of the original deposit unless the time is extended by written agreement as allowed
R.I. Gen. Laws § 5-20.5-26 requires disputed deposit monies to be deposited with the General Treasurer within 180 days, subject to written extension allowed by the statute. 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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