A Rhode Island principal broker reviews brokerage escrow funds are being disbursed or used. Which answer follows Rhode Island law?
Correct Answer
C) The principal broker must maintain the escrow account and ensure funds are not disbursed or used without the principal broker’s express authorization and knowledge
230-RICR-30-20-2 § 2.4 requires the principal broker to maintain the escrow account and control disbursement or use of others’ funds. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 §§ 2.3-2.5 and 2.24; checked 2026-04-30.
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Related Topics & Key Terms
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