A Kentucky licensee encounters the principal broker pays property expenses. What should the licensee remember?
Correct Answer
D) The agreement must state conditions under which the principal broker may pay expenses related to the managed property
201 KAR 11:121 Section 10 requires expense-payment conditions. Source basis: 201 KAR 11:121 Section 10 and KRS 324.111, Kentucky Legislative Research Commission official sources: property management agreements, ledgers, deposit timing, escrow/management accounts, and property-management account records; checked 2026-04-30.
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