HI HB238

Principal brokers must file the client trust account number and financial institution name with the real estate commission at registration and renewal, with changes reported within ten days.

Principal brokers remain responsible for client trust accounts, account disbursements, brokerage firm accounting practices, records, contracts, and all real estate transactions conducted by associated salespersons.

Real estate commission gains authority to file actions in circuit court to obtain injunctions or other appropriate orders for enforcement of client trust account laws and rules.

Principal brokers must establish training programs, set continuing education policies, maintain current licenses, and ensure associated licensees receive information and training on amendments to real estate laws and rules.