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2013 Mississippi Code
Title 73 – PROFESSIONS AND VOCATIONS
Chapter 35 – REAL ESTATE BROKERS
IN GENERAL
§ 73-35-21 – Grounds for refusing to issue or suspending or revoking license; hearing

Failing, within a reasonable time, to account for or to remit any monies coming into his or her possession which belong to others, or commingling of monies belonging to others with his or her own funds. Every responsible broker procuring the execution of an earnest money contract or option or other contract who shall take or receive any cash or checks shall deposit, within a reasonable period of time, the sum or sums so received in a trust or escrow account in a bank or trust company pending the consummation or termination of the transaction. “Reasonable time” in this context means by the close of business of the next banking day;