I. Any principal broker who changes the place of business shall notify the commission of the change in writing within 10 days of the change. II. A real estate principal broker who proposes to use a registered trade name in connection with a firm broker license or individual principal broker license shall state that fact on an amendment form, and submit the form along with the appropriate fee, the firm broker license or individual principal broker license to be amended, and a trade name registration form. The firm broker license or individual principal broker license shall be amended to include the trade name. III. It is the responsibility of all licensees to notify the commission in writing of any changes to the licensee's resident address, mailing address and work location address. IV. The license of a real estate salesperson or associate broker shall be retained at all times by the principal broker and whenever a licensed salesperson or associate broker changes his or her affiliation from one licensed principal broker to another or ceases to represent the principal broker, the principal broker shall notify the commission in writing of the termination. Such notice shall be accompanied by the salesperson's or associate broker's license. Failure of any principal broker to notify the commission of such salesperson's or associate broker's termination within 5 days after the termination of the salesperson or associate broker shall be grounds to discipline the principal broker. V. The commission shall issue a new license for the unexpired term if the salesperson or associate broker meets all requirements of licensure, upon receipt of a statement from a principal broker, together with the appropriate fee, that such salesperson or associate broker has become affiliated with such principal broker. VI. When a salesperson's or broker's services are terminated by the principal broker for a violation of any of the provisions of this chapter, a written statement of the facts shall be submitted immediately to the commission by the principal broker.
Source. 1993, 348:1. 2003, 268:6, eff. Sept. 13, 2003. 2004, 227:4, eff. Aug. 10, 2004. 2005, 286:11, eff. July 1, 2005. 2008, 34:5, 6, eff. July 11, 2008.
I. Any principal broker who changes the place of business shall notify the commission of the change in writing within 10 days of the change. II. A real estate principal broker who proposes to use a registered trade name in connection with a firm broker license or individual principal broker license shall state that fact on an amendment form, and submit the form along with the appropriate fee, the firm broker license or individual principal broker license to be amended, and a trade name registration form. The firm broker license or individual principal broker license shall be amended to include the trade name. III. It is the responsibility of all licensees to notify the commission in writing of any changes to the licensee's resident address, mailing address and work location address. IV. The license of a real estate salesperson or associate broker shall be retained at all times by the principal broker and whenever a licensed salesperson or associate broker changes his or her affiliation from one licensed principal broker to another or ceases to represent the principal broker, the principal broker shall notify the commission in writing of the termination. Such notice shall be accompanied by the salesperson's or associate broker's license. Failure of any principal broker to notify the commission of such salesperson's or associate broker's termination within 5 days after the termination of the salesperson or associate broker shall be grounds to discipline the principal broker. V. The commission shall issue a new license for the unexpired term if the salesperson or associate broker meets all requirements of licensure, upon receipt of a statement from a principal broker, together with the appropriate fee, that such salesperson or associate broker has become affiliated with such principal broker. VI. When a salesperson's or broker's services are terminated by the principal broker for a violation of any of the provisions of this chapter, a written statement of the facts shall be submitted immediately to the commission by the principal broker.
Source. 1993, 348:1. 2003, 268:6, eff. Sept. 13, 2003. 2004, 227:4, eff. Aug. 10, 2004. 2005, 286:11, eff. July 1, 2005. 2008, 34:5, 6, eff. July 11, 2008.
I. Any principal broker who changes the place of business shall notify the commission of the change in writing within 10 days of the change. II. A real estate principal broker who proposes to use a registered trade name in connection with a firm broker license or individual principal broker license shall state that fact on an amendment form, and submit the form along with the appropriate fee, the firm broker license or individual principal broker license to be amended, and a trade name registration form. The firm broker license or individual principal broker license shall be amended to include the trade name. III. It is the responsibility of all licensees to notify the commission in writing of any changes to the licensee's resident address, mailing address and work location address. IV. The license of a real estate salesperson or associate broker shall be retained at all times by the principal broker and whenever a licensed salesperson or associate broker changes his or her affiliation from one licensed principal broker to another or ceases to represent the principal broker, the principal broker shall notify the commission in writing of the termination. Such notice shall be accompanied by the salesperson's or associate broker's license. Failure of any principal broker to notify the commission of such salesperson's or associate broker's termination within 5 days after the termination of the salesperson or associate broker shall be grounds to discipline the principal broker. V. The commission shall issue a new license for the unexpired term if the salesperson or associate broker meets all requirements of licensure, upon receipt of a statement from a principal broker, together with the appropriate fee, that such salesperson or associate broker has become affiliated with such principal broker. VI. When a salesperson's or broker's services are terminated by the principal broker for a violation of any of the provisions of this chapter, a written statement of the facts shall be submitted immediately to the commission by the principal broker.
Source. 1993, 348:1. 2003, 268:6, eff. Sept. 13, 2003. 2004, 227:4, eff. Aug. 10, 2004. 2005, 286:11, eff. July 1, 2005. 2008, 34:5, 6, eff. July 11, 2008.
