Trust Funds

Trust funds are other people’s money (OPM).  A licensed salesperson or associate broker must place all cash, checks or other items of value received in a brokerage capacity into the custody of a broker holding the licensee’s license as soon after receipt as practically possible.  It is possible to receive things of value other than cash or checks like jewelry or a vehicle.  In these cases, the Broker must make appropriate arrangements for the safekeeping of those items.

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