Maine License Law
A Maine real estate company must have its trust account in a federally insured institution located:
AOnly in Maine
BIn a federally insured financial institution accessible to the broker✓ Correct
CIn the county where the brokerage is located only
DIn the same city as the MREC
Explanation
Maine requires that trust accounts be maintained in federally insured financial institutions. While Maine-based institutions are most practical, the key requirement is federal deposit insurance (FDIC).
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