Vermont License Law
A Vermont broker who manages a property management company must ensure that all trust accounts are:
AHeld in the broker's personal name
BReconciled monthly and maintained with records that can be audited by the VREC✓ Correct
CDeposited in cash only
DInvested in Vermont municipal bonds
Explanation
Vermont license law requires that trust accounts be reconciled at least monthly and that complete records be maintained for all client funds. The VREC may audit these records at any time, and the broker of record is personally responsible for proper trust account management.
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