Maine License Law
Maine real estate licensees are required to 'account for' all money or property received on behalf of clients. This duty means:
AFiling financial reports with the MREC quarterly
BKeeping accurate records of all client funds and providing accountings when requested✓ Correct
CFiling tax returns on behalf of clients
DInvesting client funds for their benefit
Explanation
The duty to account requires licensees to maintain accurate records of all client funds and property in their control, provide accountings to clients upon request, and promptly deliver any funds to the rightful party.
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