Section REEB 18.036 - Authorization to examine real estate trust accounts and records(1) FIRM'S AUTHORIZATION. No later than 10 days after opening a real estate trust account a firm shall furnish the department authorization for the department to examine and audit all of the firm's real estate trust account records and authorization for the department of administration to examine all of the firm's interest-bearing common trust accounts maintained for client funds. The authorization shall be provided on a form, as required in s. REEB 18.037.(2) DEPOSITORY INSTITUTION'S CERTIFICATION. No later than 10 days after opening a real estate trust account a firm shall obtain the certification of every depository institution in which the firm maintains a real estate trust account attesting to the existence of the account and consenting to the examination and audit of the account by a duly authorized representative of the department or, in the case of interest-bearing common trust accounts maintained for client funds, the department of administration. The certification shall be provided to the department on a form, as required in s. REEB 18.037.Wis. Admin. Code Real Estate Examining Board REEB 18.036
Cr. Register, August, 1994, No. 464, eff. 9-1-94; correction in (1), (2) made under s. 13.92(4) (b) 7, Stats., Register November 2011 No. 671.Amended by, EmR1620: emerg. am., eff. 7-1-16; CR 16-042: am. Register February 2017 No. 734, eff. 3/1/2017