LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

Under Louisiana law, what must an auctioneer do with funds collected on behalf of a seller?

Deposit them in the auctioneer's personal checking account Hold them in a separate trust or escrow account Immediately forward them to the Louisiana Auctioneer Licensing Board Invest them in interest-bearing securities

Correct Answer:

Hold them in a separate trust or escrow account

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