Trust Accounts: Penalty

Each broker, associate broker, or salesman that violates the provisions of § 104120 of this Chapter, or commingles funds that should be in trust funds with other funds, or fails to deposit into a trust account any down payment, earnest money deposit, or other funds that should be held within a trust account, shall pay a penalty of One Hundred Dollars ($100.00) for each violation. SOURCE: Added by P.L. 29-002:V:I:70 (May 18, 2007).