A delinquent licensee who has not renewed by March 31st must ensure what about funds?

The question pertains to the responsibilities of a delinquent licensee who has not renewed their license by the March 31st deadline. In this situation, the primary concern centers around the handling of funds that may be under the licensee's control.

The correct choice emphasizes the importance of ensuring that funds are properly disbursed according to the law. This means that even though the licensee has not renewed their license, they still have a legal obligation to manage any client funds with integrity and in accordance with statutory requirements. The law mandates that funds, such as earnest money deposits, must be handled in a specific way to protect all parties involved in a transaction. This includes disbursing funds appropriately and adhering to any regulations that govern such transactions.

This responsibility persists regardless of a licensee's renewal status, highlighting the ethical and legal implications of fund management in real estate. Proper disbursement ensures that clients’ interests are safeguarded, and that the licensee complies with industry regulations, thus avoiding potential legal repercussions.

In comparison, the other options reference specific conditions regarding the funds, such as limits on amounts, account separation, or transfer permissions, which do not capture the essential requirement of lawful disbursement that applies universally in this context.