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The Slez E insurance agency has their Premium Fund Trust Account audited by the Department of Insurance and $3,000 is missing and unaccounted for. Which
The Slez E insurance agency has their Premium Fund Trust Account audited by the Department of Insurance and $3,000 is missing and unaccounted for. Which of the following is the legal presumption in this scenario? A: It is deemed an accounting error which is allowed to be corrected within 3 business days of the audit. B: Restitution within 7 business days is required. C: It is presumed the licensee responsible for the money has misappropriated it. D: The account holder has 30 days to replace the money without penalty
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