Under the Missouri "good funds law," what is the threshold amount for transactions that require "good funds"?

The correct answer reflects the amount established by Missouri's "good funds law," which mandates that for certain transactions, funds must be made available in what is considered a secure and reliable manner. The threshold amount of $2,500 specifically indicates that any check or payment below this amount does not have to meet the "good funds" requirement, facilitating smoother transactions for lower amounts.

This regulation aims to protect all parties involved in real estate transactions by ensuring that funds are guaranteed for any transaction above this level, minimizing risks associated with insufficient or unverified funds. Understanding this threshold is crucial for title agents and producers in Missouri, as it impacts the conditions under which they can accept various forms of payment when closing a property transaction.