An Ohio broker discovers that a salesperson has been operating a separate, unlicensed property management business using the brokerage's trust account to hold security deposits. Under Ohio law, the broker is:
Correct Answer
D) Responsible for supervising the salesperson's use of the trust account, and both may face disciplinary action
The broker is responsible for overseeing all use of the brokerage's trust account. A salesperson using the trust account for an unauthorized purpose is a serious violation. Both the salesperson (for unauthorized use) and the broker (for inadequate supervision) may face disciplinary action from the Division.
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