An Ohio brokerage processes 200 transactions per year. The broker wants to delegate trust account management to a bookkeeper. Under Ohio law:
Correct Answer
B) The broker may delegate day-to-day management but retains ultimate responsibility for the trust account
While a broker may delegate day-to-day trust account management tasks (data entry, reconciliation, check preparation) to a bookkeeper or office manager, the broker retains ultimate legal responsibility for the trust account. The broker must review and oversee the bookkeeper's work to ensure compliance.
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