Practice Of Real EstateLicense LawHARD
Select the North Carolina concept described below for trust money receipt, deposit timing, and exceptions. Use the description below. Description: The North Carolina deposit deadline that ordinarily applies after receipt of trust money in fiduciary capacity.
Correct Answer
A) No later than three banking days after receipt
No later than three banking days after receipt
Answer Options
A
No later than three banking days after receiptB
Only after settlement closesC
By the next annual renewalD
Within ten calendar daysWhy 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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Related Topics & Key Terms
Key Terms:
three banking daystrust account deposit21 NCAC 58A .0116fiduciary receiptNCREC compliance
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