How long does a broker have to notify FREC after receiving conflicting demands?

When a broker receives conflicting demands regarding the disbursement of trust funds, they are required to notify the Florida Real Estate Commission (FREC) within 15 business days. This provision is crucial as it ensures timely communication with the regulatory body regarding any disputes that may arise over trust funds. The 15-day timeframe is established to allow adequate time for the broker to handle the conflicting demands appropriately while also keeping FREC informed of the situation. This requirement helps to maintain transparency and protect the interests of all parties involved in the real estate transaction.