Wyo. Real Estate Comm'n R. ch. 5 § 1

The following rules apply to trust or
escrow accounts held by licensed Responsible Brokers.

(a) All money belonging to others accepted by the Responsible Broker shall be
deposited with a funds holder or in a bank, financial institution or other recognized depository in
this state in a trust or escrow account separate from personal or business money belonging to the
Responsible Broker. A banking trust account may be any type of checking, demand, passbook, or
statement account insured by an agency of the United States government. The name of each trust
account shall be identified by the word “trust” or “escrow”. The account shall be maintained in
the name of the Responsible Broker.

(b) Money belonging to others which is received by the Responsible Broker or
licensees or employees acting on his behalf includes but is not limited to money received in
connection with property management contracts; rent or lease contracts; advance fee contracts; or
money belonging to others received for future investment or other purposes.

(c) If the Responsible Broker does business as a real estate company, trust or escrow
accounts shall be maintained in the name of the Responsible Broker acting for the real estate
company and in the name of the real estate company. The name of the Responsible Broker is to
be followed by the words “Responsible Broker”.

(d) Each account heading shall include a label identifying the purpose/type of the
account, i.e. “sales trust,” “security deposit escrow,” “property management trust.”

(e) Unless otherwise permitted by other subsections of this rule, all money belonging
to others shall be deposited according to the purpose of the transaction in separate types of escrow
accounts. For example, sales escrow deposits separated from property management deposits
separated form security deposits as follows:

(i) Example:

Line 1 – XYZ Realty
Line 2 – John Doe, Responsible Broker
Line 3 – Meadows Homeowners’ Association Escrow Account

(ii) The Responsible Broker shall be able to withdraw money from a trust or
escrow account without the benefit of a cosigner. Other authorized signatures of licensed or
unlicensed people may also appear on the account.

(iii) Money belonging to others, when accepted by a Responsible Broker or
funds holder, shall not be invested in any type of account, security, or certificate of deposit which
has a fixed term for maturity unless there is written consent obtained by the Responsible Broker
of all parties to the transaction.

(iv) Money held in a trust or escrow account which is due and payable to the
Responsible Broker shall be withdrawn promptly. Monies earned by licensees affiliated with a
Responsible Broker may not be paid directly from the Responsible Broker’s trust or escrow
account.

(v) All money belonging to others in the form of cash, or check received shall
be deposited directly into the listing Responsible Broker’s real estate company trust account or
with the Responsible Broker’s real estate company funds holder by the listing Responsible Broker
per W.S. 33-28-122(a)(i), not later than the first banking day after receipt unless all persons having
an interest in the funds have agreed otherwise in writing.

(vi) When trust funds are held by a funds holder, the Responsible Broker shall
obtain a receipt showing the date and the amount of the funds transferred to the funds holder. The
Responsible Broker, for each funds holder account maintained, shall also maintain a recordkeeping
system in his place of business, consisting of at least the following:

(A) Date Received/Paid,

(B) Check number,

(C) Amount,

(D) Buyer,

(E) Seller,

(F) Escrow Agent,

(G) Date Delivered,

(H) Description of the real estate, and

(I) Disposition of Transaction.

(vii) The Responsible Broker, for all money belonging to others, shall also
maintain a recordkeeping system for every real estate company and/or branch location consisting
of at least the following:

(A) A journal shall show the chronological sequence in which funds are
received and disbursed. For funds received, the journal shall include the date, the name of the
party who is giving the money, the name of the principal, address or description of the real estate,
the amount. For disbursements, the journal shall also include the date, check number, amount,
payee, principal, and the address or description of the real estate. The journal shall include a current
running balance.

(B) A transaction ledger shall show the receipts and disbursements as
they affect a particular transaction between buyer and seller or landlord and tenant, etc. The
transaction ledger shall include the names of both parties to the transaction, the dates and amounts
received, and the address and description of the real estate. When funds are disbursed, the date,
payee, check number, and amount shall be shown.

(C) The Responsible Broker shall reconcile trust or escrow account
journals and ledger liabilities monthly. The bank reconciliation shall prove agreement on the date
of reconciliation by (1) the cash balance showing in the account journal; (2) the sum of the cash
balances for all ledgers; and (3) the corresponding bank account balance. This worksheet shall be
maintained in hard copy or electronic form for later inspection and list each beneficiary’s ledger
balance on the date of reconciliation. The Responsible Broker is not required to reconcile any trust
or escrow account when no banking activity has occurred.

(D) Separate trust account journals shall be reconciled with the related
bank statement monthly.

(f) Money belonging to one party shall not be used for the benefit of another party.

(g) Any instrument or equity or thing of value taken in lieu of cash shall be held by the
listing Responsible Broker except as otherwise agreed to in writing by all parties to the transaction.

(h) A nonresident Responsible Broker licensed in Wyoming engaged in real estate
activity in this state shall maintain separate trust accounts with a Wyoming funds holder or in a
bank or recognized depository in Wyoming.

(j) A Responsible Broker is not limited to the number of separate trust accounts or
funds holder accounts he may maintain for money belonging to others.

(k) When money is collected by a Responsible Broker for performance or services or
for the expenses of performing such services, or for advertising expenses in regard to the sale of
real estate, and such money is collected before the advertising or services have been performed,
such Responsible Broker shall deposit such money with a funds holder or in a trust account. No
money may be withdrawn from such principal’s funds, except for actual expenses paid on behalf
of the principal, until the Responsible Broker has fully performed the services for which the
principal contracted. A full and itemized accounting shall be furnished the principal within twenty
(20) days of any withdrawal of such principal’s funds from such principal’s account.