Hawaii License Law
In Hawaii, what is the 'broker-in-charge' responsibility for an affiliated salesperson's trust fund handling?
AA. Only the salesperson is responsible for their own trust accounts
BB. The principal broker is responsible for ensuring all trust funds are properly handled by affiliated licensees✓ Correct
CC. Trust fund responsibility is shared equally between the broker and salesperson
DD. The title company assumes responsibility once escrow is opened
Explanation
In Hawaii, the principal broker bears supervisory responsibility for the trust fund handling of all affiliated licensees. If a salesperson mishandles trust funds, the principal broker may face disciplinary action for failing to properly supervise.
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