Under state law, may a broker keep some of their own money in the trust account?

BROKER'S OWN FUNDS IN THE TRUST ACCOUNT: Generally, a broker may keep only a SMALL, SPECIFICALLY ALLOWED amount of their own money in the trust account — to cover BANK SERVICE CHARGES/FEES and/or to keep the account open (minimum balance), where state law permits. ANYTHING BEYOND THIS minimal allowed amount = COMMINGLING (improperly mixing personal/business funds with client trust funds), which is prohibited;

State-specific limits: Many states specify a maximum amount (e.g., a small dollar figure) the broker can keep for fees; some states prohibit any personal funds.

Purpose of the exception: Banks charge service fees; without a small broker cushion, fees could be deducted from client funds (which is also improper); the small allowance lets fees be covered without touching client money.

Core rule: Trust funds belong to clients/beneficiaries and must be kept separate from the broker's funds; the account is for holding others' money (earnest money, deposits, rents); COMMINGLING and CONVERSION: Serious violations leading to discipline; the narrow exception — a minimal amount for bank fees — does NOT permit using the trust account for business funds; knowing this limited exception (small amount for fees only) and that anything more is commingling is important trust-account knowledge for brokers tested on the state exam.