Funds constituting security deposits must be deposited into the security deposits account within how many banking days after the check is deposited?

In Oregon, landlords and property managers are required to handle security deposits in a specific manner to ensure compliance with state laws. When a tenant provides a security deposit, the funds must be deposited into a designated security deposits account within a specific timeframe to protect the tenant's funds.

In this context, the correct answer indicates that the funds must be placed into the security deposit account within three banking days after the check has been deposited. This requirement ensures that the security deposit is treated as a separate entity from the property management's operational funds, thus safeguarding the tenant's money and providing transparency.

Timely deposits into the security deposit account help to reflect proper financial management and compliance with legal obligations. This not only builds trust between the landlord and tenant but also prevents potential disputes over the handling of the security deposit. Failing to adhere to this timeline can lead to legal repercussions for the property manager or landlord, highlighting the importance of understanding and applying the correct timeline for security deposit handling.