Under TREC rules, the broker's trust account must meet several requirements for proper management. All of the following are required of brokers regarding trust accounts EXCEPT:
Correct Answer
C) Payment of the broker's personal income taxes from the trust account
Paying the broker's personal income taxes from the trust account is a clear violation. Trust funds are exclusively for client and third-party deposits and may not be used for the broker's personal expenses of any kind.
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