Florida License Law
A Florida broker who fails to properly maintain escrow records may be disciplined by FREC for:
AOnly failing the annual audit
BFailure to maintain proper brokerage records as required by Chapter 475 F.S. and FREC rules✓ Correct
COnly if client funds are actually missing
DNothing, since record-keeping violations are civil only
Explanation
Failure to maintain required brokerage records (including escrow account records, transaction files, and monthly reconciliations) is a violation of Chapter 475 F.S.
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Key Terms to Know
State-Specific Concepts
FREC Regulation
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