Agency
In Michigan, an agent has a duty to 'account' for all funds and property, meaning:
AThe agent must track only the commission amounts
BThe agent must safeguard all documents, money, and property entrusted to them and provide accounting upon request✓ Correct
CThe agent must open a separate bank account for each client
DOnly the broker has this duty, not individual agents
Explanation
The fiduciary duty to account requires agents to safeguard all client funds, documents, and property entrusted to them and to provide a full accounting of all money received and disbursed. This duty applies to both the broker and licensed agents.
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