Maine License Law
Under Maine law, a real estate brokerage's trust account must be reconciled:
AOnce a year at tax time
BMonthly, reconciling the checkbook balance with the bank statement✓ Correct
COnly when a transaction closes
DEvery 90 days
Explanation
Maine requires trust accounts to be reconciled monthly, comparing the checkbook balance to the bank statement to ensure all client funds are properly accounted for.
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