Minnesota License Law
Under Minnesota rules, which document must a brokerage maintain for each trust account?
AA signed waiver from all depositors
BA ledger showing all receipts and disbursements for each client✓ Correct
CApproval letter from the Department of Commerce
DMonthly certified audit by a CPA
Explanation
Minnesota requires brokerages to maintain a complete ledger for each trust account showing all receipts and disbursements for each client's funds, enabling reconciliation and audit.
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