Section 308-124C-105 - Required recordsThe designated broker is required to keep the following on behalf of the firm:
(1) Trust account records:(a) Duplicate receipt book or cash receipts journal recording all receipts;(b) Sequentially numbered, nonduplicative checks with check register, cash disbursements journal or check stubs;(c) Validated duplicate bank deposit slips or daily verified bank deposit;(d) Client's accounting ledger summarizing all moneys received and all moneys disbursed for each real estate or business opportunity transaction or each property management account, contract or mortgage collection account;(e) In conjunction with (d) of this subsection, separate ledger sheets for each tenant (including security deposit), lessee, vendee or mortgagor; for automated systems, the ledger sheets may be a computer generated printout which contains required entries;(f) Reconciled bank statements and canceled checks for all trust bank accounts.(2) Other records: (a) An accurate, up-to-date log of all agreements or contracts for brokerages services submitted by the firm's affiliated licensees.(b) A legible copy of the transaction or contracts for brokerage services shall be retained in each participating real estate firm's files.(c) A transaction folder containing all agreements, receipts, contracts, documents, leases, closing statements, broker price opinions, referral agreements, and material correspondence, for each real estate or business opportunity transaction, and for each rental, lease, contract or mortgage collection account.(d) All required records shall be maintained at one location where the firm is licensed. This location may be the main or any branch office.Wash. Admin. Code § 308-124C-105
Amended by WSR 14-16-054, Filed 7/29/2014, effective 8/29/2014Amended by WSR 24-13-057, Filed 6/13/2024, effective 7/14/2024Statutory Authority: RCW 18.85.040 and 18.85.041. WSR 10-06-078, § 308-124C-105, filed 3/1/10, effective 7/1/10.