A responsible broker who remits immediately to the principal all money received by the responsible broker belonging to the principal without using a trust account shall maintain for at least four years the records that completely disclose all financial dealings between the principal and the responsible broker.

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Terms Used In South Dakota Codified Laws 36-21A-83

  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC

Source: SL 1992, ch 273, § 83; SL 2013, ch 177, § 31.

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