Florida License Law
A Florida broker who holds client funds in their personal bank account is guilty of:
AA minor bookkeeping error
BCommingling — mixing client funds with personal funds, a serious violation of Chapter 475 F.S.✓ Correct
CConversion only if funds are actually spent
DNo violation if the amount is under $1,000
Explanation
Commingling is the illegal mixing of client funds (earnest money, security deposits) with the broker's personal or business operating funds. It is a serious violation of Chapter 475 F.
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