Under TREC rules, a broker who closes a brokerage must handle any remaining trust account funds properly. What must the broker do with the funds?
Correct Answer
D) Disburse all trust funds to the rightful owners or handle them in accordance with applicable law before closing the trust account
When closing a brokerage, the broker must disburse all remaining trust funds to the rightful owners. The trust account should have a zero balance before it is closed, with all funds properly accounted for and disbursed.
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