When must the trust account reconciliation be submitted in relation to the broker's license expiration?

The requirement for the trust account reconciliation to be submitted before the broker's license expiration is based on regulatory practices that ensure accountability and proper management of client funds. Under Nevada law, brokers are responsible for maintaining accurate records of client funds, and submitting the reconciliation prior to the expiration of their license ensures that all accounts are in order and compliant with the regulations.

This submission not only demonstrates financial responsibility but also protects both the broker and their clients by ensuring that any discrepancies can be addressed while the broker is still operating under their active license. By mandating this process before expiration, the law aims to uphold professional standards within property management, reducing the risk of mismanagement of funds once the license is not active.

In contrast, options suggesting that reconciliation can be done after expiration or at any time throughout the year do not meet regulatory requirements. This could lead to a lack of oversight and potential financial issues, which the law seeks to avoid.