Under Michigan's Occupational Code (MCL 339.2501 et seq.), which fiduciary duty requires a real estate licensee to place the client's interests above the licensee's own personal or financial interests throughout the transaction?
Correct Answer
B) Loyalty
Loyalty is the fiduciary duty that obligates a Michigan licensee to act solely in the client's best interest, subordinating the licensee's own interests at all times. MCL 339.2512d codifies this duty as part of the agency relationship in Michigan.
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