A transaction coordinator in Carrboro is answering a client question about BIC eligibility, designation, and supervision. Which statement best applies under current North Carolina law?
Correct Answer
B) If a designated BIC assumes responsibility for a trust account, the Basic Trust Account Procedures Course must be completed within 120 days.
If a designated BIC assumes responsibility for a trust account, the Basic Trust Account Procedures Course must be completed within 120 days.
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