Which statement is TRUE regarding interest-bearing escrow accounts?
A. It is illegal for the broker to keep any interest earned on escrow funds.
B. Brokers may make an office policy that all escrow funds must be placed in an interest-bearing account to help cover the costs of maintaining the account, and are not required to disclose this in each sale contract because it applies to all transactions.
C. The broker must get written permission from all parties to the transaction before placing the funds into an interest-bearing account.
D. Florida license law requires the interest accrued on escrowed funds to be credited to the buyer because it is the buyer's earnest money deposit.
