Property Management
A Rhode Island property manager collects rents on behalf of an owner. These funds must be:
ADeposited in the property manager's personal account for convenience
BHeld in a separate trust or escrow account and not commingled with the manager's own funds✓ Correct
CForwarded to the state tax authority monthly
DInvested in government bonds
Explanation
A property manager acting as an agent must hold client funds (rents, deposits) in a separate trust or escrow account to avoid commingling. This is required under Rhode Island license law and fiduciary duty.
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