Under Ohio law, the Ohio Real Estate Recovery Fund has a maximum payout limit for claims arising from a single licensee's actions. This maximum is:
Correct Answer
C) $40,000 per licensee regardless of the number of claims
Under ORC §4735.12, the Ohio Real Estate Recovery Fund has a maximum aggregate payout of $40,000 per licensee for all claims combined. Individual claim payments are capped at $20,000 per transaction, and the total cannot exceed $40,000 per licensee.
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An Ohio salesperson completes a transaction and wants to receive her commission directly from the seller at closing. Under Ohio law, this arrangement is: