Practice Of Real EstateLicense LawEASY
In North Carolina practice, what term or document matches this description about trust money receipt, deposit timing, and exceptions? Read the description and choose the matching concept. Description: The North Carolina deposit deadline that ordinarily applies after receipt of trust money in fiduciary capacity.
Correct Answer
D) No later than three banking days after receipt
No later than three banking days after receipt
Answer Options
A
By the next annual renewalB
Within ten calendar daysC
Only after settlement closesD
No later than three banking days after receiptWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Related Topics & Key Terms
Key Terms:
three banking daystrust moneydeposit deadline21 NCAC 58A .0116fiduciary capacity
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