Question

any broker who provides community association management services bust be covered by a fidelity bond or insuracne policy if the funds they collect, maintain or control exceeds how much?

Answer 1

Brokers providing community association management services must be covered by a fidelity bond or insurance policy if the funds they handle exceed a certain amount.

Step-by-step explanation:

Any broker who provides community association management services must be covered by a fidelity bond or insurance policy if the funds they collect, maintain, or control exceed a certain amount. The specific amount may vary depending on the jurisdiction and regulations. In general, the threshold for requiring a fidelity bond or insurance policy is typically around $100,000 to $250,000.

This requirement is in place to protect the community association and its members from financial losses due to fraudulent or dishonest acts by the broker. The fidelity bond or insurance policy provides coverage for theft, embezzlement, or other financial misconduct.