What is an agent's duty regarding trust accounts in Maryland?

An agent's duty regarding trust accounts in Maryland involves managing and maintaining records according to regulations. This responsibility ensures that the funds are properly accounted for and safeguarded. Trust accounts are designed to hold client funds, and the agent must diligently track any transactions associated with these accounts, including deposits, withdrawals, and any interest earned.

By adhering to regulatory requirements, the agent protects the client’s interests and complies with state laws, which require transparency and accountability in handling client funds. Proper record-keeping helps prevent misappropriation of funds, thereby fostering trust between the agent and their clients. This duty is essential for maintaining ethical standards in real estate practices and avoiding potential legal issues.

The other options reflect practices that are not compliant with Maryland regulations and undermine the fiduciary responsibilities agents have towards their clients. Ignoring trust accounts, using funds for personal expenses, or handling disbursements without records would not only violate ethical guidelines but also lead to serious legal consequences for the agent.