Washington License Law
Washington's Real Estate License Law (RCW 18.85) requires that a broker's trust account be maintained:
AIn the broker's personal bank account
BIn a federally insured depository in Washington State✓ Correct
CIn any interest-bearing account approved by the DOL
DIn escrow at the title company
Explanation
RCW 18.85 requires trust accounts holding client funds to be maintained in a federally insured depository institution located in Washington State, separate from the broker's operating funds.
Related Washington Washington License Law Questions
- A Washington real estate brokerage firm must display which of the following at every licensed office location?
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