Minnesota License Law
A Minnesota broker's trust account must be reconciled:
AAnnually only
BMonthly to ensure the balance matches the sum of all client funds held✓ Correct
COnly when a dispute arises
DWhenever a transaction closes
Explanation
Minnesota requires brokers to reconcile their trust account ledger against their bank statements monthly. The reconciliation verifies that the trust account balance equals the sum of all individual client fund ledger balances. Discrepancies must be investigated and corrected immediately.
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