New York License Law
In New York, a licensee's 'fiduciary duty' to their principal means they must act:
AWith minimal disclosure to avoid confusing clients
BWith the utmost good faith, loyalty, and care — placing the principal's interests above all others (except for lawful obligations)✓ Correct
CAs a neutral party representing all sides equally
DOnly in the interest of completing the transaction
Explanation
A fiduciary duty is the highest duty recognized in law. In New York, a licensee acting as an agent owes their principal (buyer or seller) the duty to act with utmost good faith, loyalty, and care — placing the principal's interests above their own and above the interests of third parties, subject only to lawful obligations (such as the duty not to engage in fraud or illegal discrimination).
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