Which entity has the authority to examine trust account records?

The state commission has the authority to examine trust account records as part of its regulatory responsibilities. In Wyoming, the state commission oversees real estate practices to ensure compliance with the law and to protect the interests of the public, clients, and licensees. Trust accounts, which hold funds belonging to clients, must be managed according to specific regulations to prevent misuse. By examining these records, the state commission can verify that funds are properly handled and that real estate brokers adhere to the legal requirements meant to safeguard client money. This oversight helps maintain integrity within the real estate profession and assures that the trust placed by clients in their brokers is honored and protected.

The role of other entities, such as real estate agencies, client representatives, or local banks, while significant in their own right, does not encompass this specific regulatory function. These parties may have varying degrees of access to account information but lack the formal authority to conduct examinations or audits of trust accounts.