A Rhode Island principal broker reviews an affiliated licensee terminates affiliation or employment. Which answer follows Rhode Island law?
Correct Answer
A) The principal broker must make a complete written accounting of commissions due within thirty days after termination
230-RICR-30-20-2 § 2.21 requires written accounting of commissions due within thirty days after termination. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 § 2.21 and R.I. Gen. Laws § 5-20.5-14; checked 2026-04-30.
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Related Topics & Key Terms
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Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
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