True or False: Trust accounts can only be interest-bearing accounts.

Trust accounts can be either interest-bearing or non-interest-bearing, depending on the preferences of the parties involved and the regulations governing the specific trust account. In Oregon, property management companies may choose to open trust accounts that earn interest, but they are not required to do so. Non-interest-bearing accounts are also acceptable. The main purpose of a trust account is to hold funds in a manner that ensures they are separate from the property management company's operational funds, providing a safeguard for clients' money.

In addition, certain guidelines dictate whether the interest accrued from these accounts must be paid to the client or retained by the property management business. Therefore, stating that trust accounts can only be interest-bearing is inaccurate; they can exist as both types based on the established agreements and circumstances.