Respondent is charged with engaging in improper trust account procedures in violation of Iowa Code sections 543B.29(1)(k), 543B.34(1), 543B.46, 543B.46(4) (2016) by:
(a) Failing to maintain at all times a record of the Respondent’s trust account and improper trust account procedures. See 193E Iowa Administrative Code §§ 13.1(6), 18.14(5)(e), 18.14(5)(f).
(b) Failing to provide a means for a monthly reconciliation of the Respondent’s trust account to ensure agreement of the general ledger balance, reconciled bank balance and individual ledger accounts. See 193E Iowa Administrative Code §§ 13.1(6)(a)(3), 18.14(5)(e), 18.14(5)(f).
(c) Having an excess of five hundred dollars of broker’s personal funds in the Respondent’s Iowa real estate trust account. See 193E Iowa Administrative Code §§ 13.1(1)(c), 18.14(5)(f)(8).
