Practice Of Real EstateLicense LawHARD
Which term or document is being described in this North Carolina item on 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
C) No later than three banking days after receipt
No later than three banking days after receipt
Answer Options
A
Only after settlement closesB
Within ten calendar daysC
No later than three banking days after receiptD
By the next annual renewalWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Practice Of Real Estate Question
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Background Knowledge for Practice Of Real Estate
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Related Topics & Key Terms
Key Terms:
three banking daysdeposit deadlinetrust accountNCREC Rule 58A .0116fiduciary receipt
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