Ala. Admin. Code r. 790-X-2-.04

Current through Register Vol. 43, No. 1, October 31, 2024

Section 790-X-2-.04 - Additional Broker License

(1) A qualifying broker doing business in the name of a corporation or partnership and who also desires to do business as a sole proprietorship or for another corporation or partnership located at the same address must obtain and submit to the Commission a letter of consent from all officers of the corporation, or partners of the partnership.

(2) A corporation, partnership, or sole proprietorship may grant permission for its qualifying broker to be qualifying broker for another corporation, partnership or sole proprietorship doing business in the same location. Any licensee licensed under a broker who serves as qualifying broker for more than one corporation, partnership or sole proprietorship operating from the same address may operate under either corporation, partnership or sole proprietorship sharing the same qualifying broker.

(3) A qualifying broker for a real estate company may serve as an associate broker for another real estate company at the same location.

(4) A broker may serve as a qualifying broker for a real estate company and a vacation timesharing plan provided that both are located at the same address.

(5) A broker shall hold a separate license for each firm which he represents as a qualifying broker.

Ala. Admin. Code r. 790-X-2-.04

Filed September 30, 1982. Amended: Filed November 21, 1983; December 18, 1984; March 28, 1985; August 7, 1992.

Amended by Alabama Administrative Monthly Volume XXXVI, Issue No. 12, September 28, 2018, eff. 10/11/2018.

Author: Alabama Real Estate Commission

Statutory Authority:Code of Ala. 1975, §§ 34-27-8, 34-27-32.