New York License Law
Under New York license law, commingling of client funds means:
ADepositing client funds in the broker's personal account or operating account✓ Correct
BDepositing client funds in a federally insured bank
CTransferring client funds to the seller at closing
DHolding client funds in an interest-bearing account
Explanation
Commingling is the illegal mixing of client funds with the broker's own personal or business operating funds. All client deposits must be kept in a separate, identifiable escrow or trust account.
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