According to South Carolina Real Estate License Law, a correct statement about earnest money funds...
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Accounting
According to South Carolina Real Estate License Law, a correct statement about earnest money funds that may ultimately be disbursed as commissions to licensees involved in the transaction is that the funds
A. cannot exceed the original agreed-upon commission.
B. Cannot be issued to any licensee until the sale is consummated or otherwise terminated.
C. Can be thought of as commission and used as secured collateral by the licensees who stand to receive it.
D. may be transferred to the selling broker's account if one of the parties to the contract has agreed in writing.
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