Current through Register Vol. XLI, No. 50, December 13, 2024
Section 174-1-9 - License Certificates: Issuance, Cancellation and Transfer9.1 License certificate. -- The Commission shall issue to each licensee a license certificate in such form and size as shall be prescribed by the Commission. Each license certificate shall include the name of the brokerage for which the licensee is authorized to conduct real estate transactions and such additional information as may be deemed necessary by the Commission or required by law. 9.2. Inactive status. -- License certificates shall reflect when a license had been placed on inactive status, and all licenses on inactive status shall be maintained in the custody and control of the Commission.9.3. Custody and return of inactive license certificates. -- The responsible broker shall maintain in his or her custody and control the active license certificates of each salesperson and associate broker. Upon the separation of a licensee from the current responsible broker, the responsible broker shall immediately return the license certificate to the Commission for appropriate action and notify the salesperson or associate broker of same.9.4. Change of responsible broker by salesperson or associate. -- In the event a salesperson or associate broker seeks to transfer from his or her current responsible broker to another responsible broker, he or she must first notify his or her current responsible broker in writing, submit a properly executed application for change of responsible broker on the form prescribed by the Commission, and pay the fee set forth in Series 2 of the Commission's rules.9.5. Sworn statement by new broker. -- In the event a salesperson or associate broker makes an application for change of responsible broker, the application shall include a sworn statement by the new responsible broker confirming the transfer.9.6. Change of licensee contact information. - Each licensee shall notify the Commission in writing of any change in name, personal address, and phone and email address of record within thirty (30) days of the change or prior to June 30, whichever comes first. A change of name must be submitted on the form prescribed by the Commission and accompanied with the fee set forth in Series 2 of the Commission's rules.