Texas License Law
Under TREC rules, a Texas broker who receives trust funds from a client must deposit them:
AInto the broker's operating account for safekeeping
BInto a separate, properly maintained trust account no later than the close of business on the next business day✓ Correct
CWith the title company within 5 days
DWith TREC for safekeeping
Explanation
TREC rules require brokers to deposit trust funds into a properly designated trust account no later than the close of business on the next business day after receipt. Commingling or delaying deposit of trust funds is a serious violation that can result in license suspension or revocation.
Related Texas Texas License Law Questions
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