A training instructor in New Bern is sorting out a file issue involving trust money receipt, deposit timing, and exceptions. Which statement best applies under current North Carolina law?
Correct Answer
B) The three-banking-day rule applies to trust money the broker receives in a fiduciary capacity, such as earnest money payable to the escrow agent.
The three-banking-day rule applies to trust money the broker receives in a fiduciary capacity, such as earnest money payable to the escrow agent.
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