21 N.C. Admin. Code 58A.0506
Current through Register Vol. 39, No. 11, December 2, 2024
Section 58A .0506 - PROVISIONAL BROKER TO BE SUPERVISED BY BROKER-IN-CHARGE(a) A provisional broker may engage in or hold himself or herself out as engaging in activities requiring a real estate license only while his or her license is on active status pursuant to Rule .0504 of this Section and he or she is supervised by the broker-in-charge of the real estate firm or office with which the provisional broker is affiliated. A provisional broker shall be supervised by only one broker-in-charge at a time except that a provisional broker may be supervised by no more than two brokers-in-charge of two licensed affiliated firms located in the same physical location and acting as co-listing or co-selling agents in real estate transactions. When a provisional broker is supervised by more than one broker-in-charge, both brokers-in-charge shall bear all supervision responsibility at all times.(b) Upon a provisional broker's affiliation with a real estate broker or brokerage firm, the broker-in-charge of the office where the provisional broker will be engaged in the real estate business shall file with the Commission a License Activation and Broker Affiliation form that sets forth the: (1) provisional broker's: (B) license number, type of license, and current license status;(C) physical, mailing, and emailing addresses;(D) public and private phone numbers;(E) completed Postlicensing courses, if necessary;(F) completed continuing education courses, if necessary; and(2) broker-in-charge's:(C) firm's name and license number;(D) physical, mailing, and emailing addresses;(E) public and private phone numbers; and(c) Upon the submission of the License Activation and Broker Affiliation form, the provisional broker may engage in real estate brokerage activities requiring a license under the supervision of the broker-in-charge; however, if the provisional broker and broker-in-charge do not receive from the Commission a written acknowledgment of the provisional broker supervision notification and, if appropriate, the request for license activation, within 30 days of the date shown on the form, the provisional broker shall cease all real estate brokerage activities pending receipt of the written acknowledgment from the Commission.(d) A broker-in-charge shall supervise the provisional broker in a manner that assures that the provisional broker performs all acts for which a real estate license is required in accordance with the Real Estate License Law and Commission rules. A supervising broker who fails to supervise a provisional broker as prescribed in this Rule may be subject to disciplinary action pursuant to Rule .0110 of this Subchapter.(e) Upon the termination of the supervisory relationship between a provisional broker and his or her broker-in-charge, the provisional broker and the broker-in-charge shall provide written notification of the date of termination to the Commission not later than 10 days following the termination.21 N.C. Admin. Code 58A .0506
Authority G.S. 93A-2(a1); 93A-2(a2); 93A-3; 93A-9;
Eff. February 1, 1976;
Readopted Eff. September 30, 1977;
Amended Eff. April 1, 2013; April 1, 2006; July 1, 2005; July 1, 2004; October 1, 2000; August 1, 1998; July 1, 1996; July 1, 1995; July 1, 1993;
Readopted Eff. July 1, 2019;
Amended Eff. July 1, 2020.Authority G.S. 93A-2(b); 93A-3; 93A-9;
Eff. February 1, 1976;
Readopted Eff. September 30, 1977;
Amended Eff. April 1, 2013; April 1, 2006; July 1, 2005; July 1, 2004; October 1, 2000; August 1, 1998; July 1, 1996; July 1, 1995; July 1, 1993.Readopted by North Carolina Register Volume 34, Issue 01, July 1, 2019 effective 7/1/2019.Amended by North Carolina Register Volume 35, Issue 01, July 1, 2020 effective 7/1/2020.