Angela is a licensed Missouri salesperson who has been working at Pinnacle Realty for three years. Her broker, without Angela's knowledge, has been commingling client trust funds with the brokerage's operating account. MREC investigates and determines that Angela had no knowledge of or participation in the commingling. Under Missouri law, which of the following most accurately describes the broker's liability and Angela's status?
Correct Answer
B) The broker faces disciplinary action for the trust account violation; Angela faces no disciplinary action because she had no knowledge or participation
Under RSMo Chapter 339, the broker bears primary responsibility for trust account management and compliance. Commingling client funds with operating accounts is a serious violation subject to MREC disciplinary action against the broker. Because Angela had no knowledge of or participation in the violation, she does not share the broker's disciplinary liability. Missouri's supervisory framework places non-delegable trust account duties on the broker, not on affiliated salespersons.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
More Practice Of Real Estate Questions
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