2831. Trust Fund Records To Be Maintained.
(a) Every broker shall keep a record of all trust funds received, including uncashed checks held pursuant to instructions
of his or her principal. This record, including records maintained under an automated data processing system, shall set
forth in chronological sequence the following information in columnar form:
(1) Date trust funds received.
(2) From whom trust funds received.
(3) Amount received.
(4) With respect to funds deposited in an account, date of said deposit.
(5) With respect to trust funds previously deposited to an account, check number and date of related disbursement.
(6) With respect to trust funds not deposited in an account, identity of other depository and date funds were
forwarded.
(7) Daily balance of said account.
(b) For each bank account which contains trust funds, a record of all trust funds received and disbursed shall be
maintained in accordance with subdivision (a) or (c).
(c) Maintenance of journals of account cash receipts and disbursements, or similar records, or automated data processing
systems, including computer systems and electronic storage and manipulation of information and documents, in
accordance with generally accepted accounting principles, shall constitute compliance with subdivision (a) provided
that such journals, records, or systems contain the elements required by subdivision (a) and that such elements are
maintained in a format that will readily enable tracing and reconciliation in accordance with Section 2831.2.
(d) Nothing in this section shall be construed to permit a violation of Section 10145 of the Code.
(e) A broker is not required to keep records pursuant to this section of checks which are written by a principal, given to
the broker and made payable to third parties for the provision of services, including but not limited to escrow, credit
and appraisal services, when the total amount of such checks for any transaction from that principal does not exceed
$1,000. Upon request of the Bureau or the maker of such checks, a broker shall account for the receipt and distribution
of such checks. A broker shall retain for three years copies of receipts issued or obtained in connection with the receipt
and distribution of such checks.