A Louisiana broker's trust account must:
Correct Answer
B) Be a separate federally insured account clearly identified as an escrow or trust account, subject to LREC audit
LREC requires that broker trust accounts be maintained as separate accounts, held at a federally insured depository institution, and clearly labeled as an escrow or trust account distinct from the broker's operating or personal funds. These accounts are subject to audit by LREC at any time. LREC rules do not explicitly restrict trust accounts to Louisiana-chartered institutions, provided the institution is federally insured.
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