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A broker maintains a trust of escrow account $10000 earnest money deposit in the account deposit several weeks later and price to close the broker
A broker maintains a trust of escrow account $10000 earnest money deposit in the account deposit several weeks later and price to close the broker withdraws $7000 on the account and puts it in his operating account .this transaction is ? A- permissible as long as the broker is entitled to at least $7000 in commission B- a violation of federal banking regulation C- an instance of illegal conversion of funds D-permissible if the seller was informed about the transfer of funds
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