West Virginia License Law
A West Virginia broker's trust account must be maintained at:
AAny bank the broker chooses, including out-of-state banks
BA federally insured depository institution with accounts clearly identified as trust accounts✓ Correct
CThe WVREC's designated bank for trust accounts
DAny financial institution that pays the highest interest rate
Explanation
WVREC rules require that broker trust accounts be maintained at federally insured depository institutions (banks or savings institutions). The accounts must be designated as trust or escrow accounts.
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