New York License Law
A New York real estate licensee who is found to have engaged in 'commingling' of funds faces:
AOnly a warning for a first offense
BPotential suspension or revocation of their license by the DOS✓ Correct
CA mandatory fine of $5,000
DLoss of their ability to work in commercial real estate only
Explanation
Commingling (mixing client funds with the broker's personal or operating funds) is a serious violation of New York license law that can result in suspension or revocation of the licensee's license by the DOS.
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