Mississippi License Law
MREC requires that all trust account records be retained for a minimum of three years. This record-keeping requirement applies to:
AOnly transactions that involved disputes
BAll transactions, including deposit receipts, disbursements, and monthly reconciliations✓ Correct
COnly transactions over $100,000
DOnly rental management accounts
Explanation
MREC's record-keeping requirements apply to all trust account transactions—every deposit, disbursement, and monthly bank reconciliation—for at least three years, regardless of transaction size or whether a dispute arose.
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