Under TREC rules, a trust account used by a Texas real estate broker to hold client funds must be maintained at which type of institution?
Correct Answer
C) A federally insured bank, savings institution, or credit union located in Texas
Under TREC rules, trust accounts must be maintained at a federally insured financial institution (bank, savings institution, or credit union) located in Texas. This ensures the funds are protected by federal deposit insurance.
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