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What are the broker's responsibilities when faced with conflicting demands for escrow deposits?
Amendment
A formal change or addition proposed or made to a document, law, or legislative bill.
Federal Funds
Reserve balances that commercial banks hold at Federal Reserve Banks, often referred to in the context of the federal funds rate, which is the interest rate at which banks lend to each other overnight.
Income Tax
Tax levied by a government directly on income, including wages, salaries, and investments.
Constitution
The fundamental principles and established precedents according to which a state or other organization is governed.
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