Property Management
A North Dakota property manager who fails to file the required trust account reports with their broker is:
AActing within their independent authority
BViolating their fiduciary and professional obligations and potentially license law✓ Correct
COnly in violation if funds are missing
DFollowing a standard practice in North Dakota
Explanation
Property managers must maintain accurate trust account records and provide required reports to their supervising broker. Trust account reporting is fundamental to the accountability required by license law. Failure to report can be evidence of mismanagement or misappropriation.
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