Arizona License Law
A designated broker in Arizona decides to close their brokerage. What must they do with client trust funds?
AReturn all trust funds to the clients they belong to or transfer them to a licensed escrow company✓ Correct
BDeposit the trust funds into the broker's personal account for safekeeping
CDonate the unclaimed trust funds to a state escrow fund after 30 days
DTransfer all funds to ADRE for disbursement
Explanation
Upon closing a brokerage, a designated broker must properly disburse all client trust funds to the parties entitled to them or transfer them to a licensed escrow company — they may never be placed in the broker's personal accounts.
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