21 N.C. Admin. Code 58A.1808

Current through Register Vol. 39, No. 11, December 2, 2024

Section 58A .1808 - TRUST MONIES

A nonresident commercial broker acting as real estate broker in North Carolina shall deliver to the North Carolina resident broker with whom he or she is affiliated all money belonging to others received in connection with the nonresident commercial broker's acts or services as a broker. Upon receipt of the funds, the resident North Carolina broker shall cause the funds to be deposited in a trust account in accordance with the provisions of Rule .0116 of this Subchapter.

21 N.C. Admin. Code 58A .1808

Authority G.S. 93A-4; 93A-6(d); 93A-6(g); 93A-9;
Eff. July 1, 2004;
Amended Eff. July 1, 2014; April 1, 2006;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.

Authority G.S. 93A-4; 93A-9;
Eff. July 1, 2004;
Amended Eff. April 1, 2006.

Amended by North Carolina Register Volume 29, Issue 3, August 1, 2014 effective 7/1/2014.