A New Mexico broker asks about a trust account transaction later needs to be reviewed. What is the best answer?
Correct Answer
D) Trust and custodial account records must be maintained or accessible and retained for six years after termination where required
New Mexico qualifying brokers must maintain detailed trust and custodial account records. Source basis: 16.61.23 NMAC, Trust Accounts: trust account designation, records, deposits, disbursements, and commingling; checked 2026-04-30.
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