A Kentucky principal broker reviews money belonging to others comes into a licensee’s possession. Which answer follows Kentucky law?
Correct Answer
A) The licensee must account for or remit the money within a reasonable time
KRS 324.160 sanctions failure to account for or remit money belonging to others within a reasonable time. Source basis: KRS 324.117, KRS 324.160, and 201 KAR 11:121, Kentucky Legislative Research Commission official statutes/regulations: advertising, supervision, brokerage records, document delivery, affiliation, compensation, agency, and improper conduct; checked 2026-04-30.
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