2005 Idaho Code - 54-2041 — TRUST ACCOUNTS AND ENTRUSTED PROPERTY

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 20
                        IDAHO REAL ESTATE LICENSE LAW
    54-2041.  TRUST ACCOUNTS AND ENTRUSTED PROPERTY. (1) A licensed Idaho real
estate broker shall be responsible for all moneys or property entrusted to
that broker or to any licensee representing the broker.
    (2)  Immediately upon receipt, the broker shall deposit entrusted moneys
in a neutral, qualified trust fund account, and shall properly care for any
entrusted property.
    (3)  Only moneys relating to a regulated real estate transaction may be
deposited in the broker's real estate trust fund account. Entrusted moneys
shall not be commingled with moneys of the broker, firm or agent, except for
that minimum amount that may be required to open and maintain the trust
account or as otherwise allowed by subsection (7) of section 54-2042, Idaho
Code.
    (4)  The real estate broker shall remain fully responsible and accountable
for all entrusted moneys and property until a full accounting has been given
to the parties involved.