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When must the licensee deposit the check if the customer defaults on any of the 3 scheduled payments of a written repayment plan?

When must the licensee deposit the check if the customer defaults on any of the 3 scheduled payments of a written repayment plan?

If the customer defaults on a repayment plan installment by not making the payment when due, the check must be deposited at the close of business on the repayment plan installment date.