Oklahoma License Law
Under Oklahoma law, a broker must maintain a trust account if they:
AHave more than 5 active listings
BReceive funds belonging to others in the course of brokerage activities✓ Correct
CAre affiliated with a national real estate franchise
DEmploy more than 3 sales associates
Explanation
Any Oklahoma broker who receives or handles funds belonging to clients or customers (earnest money, deposits, rents) in the course of brokerage activities must maintain a separate trust account. The trust account must be in a federally insured financial institution.
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Key Terms to Know
Math Concepts
State-Specific Concepts
Trust Account Rules
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