Which scenario exemplifies improper escrow account maintenance?

The scenario demonstrating improper escrow account maintenance is when Broker Odette deposits an escrow check seven business days after she receives it. In Virginia, the law mandates that agents or brokers must deposit escrow funds promptly, typically within two business days of receipt. This quick deposit is critical to ensure the proper handling and safekeeping of client funds. Delaying the deposit by several days can lead to potential risks, such as misappropriation or loss of funds, and is a violation of the regulations governing escrow account management.

On the other hand, prompt deposit of funds as done by Broker Andrew aligns with legal requirements. Using a separate account for escrow, as Broker Sam does, is essential to properly distinguish client funds from personal funds and prevent commingling. The practice of maintaining a written log of escrows by Broker Mia is also good practice, as it helps ensure accurate record-keeping and transparency in the management of client funds.