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§ 17-311. Transfer of affiliation between licensed real estate brokers

West's Annotated Code of MarylandBusiness Occupations and Professions

West's Annotated Code of Maryland
Business Occupations and Professions
Title 17. Real Estate Brokers (Refs & Annos)
Subtitle 3. Licensing (Refs & Annos)
MD Code, Business Occupations & Professions, § 17-311
§ 17-311. Transfer of affiliation between licensed real estate brokers
Currentness
Transfers by real estate salespersons
(a) A licensed real estate salesperson may transfer affiliation from a licensed real estate broker to another licensed real estate broker, if the real estate salesperson:
(1) obtains, from the other licensed real estate broker, a commitment providing that, on cancellation of the current affiliation of the real estate salesperson and issuance of a new license certificate and pocket card to the real estate salesperson, the real estate salesperson shall become affiliated with the licensed real estate broker as a real estate salesperson; and
(2) complies with the application procedures under subsection (c) of this section.
Transfers by associate real estate brokers
(b) A licensed associate real estate broker may transfer affiliation from a licensed real estate broker to another licensed real estate broker, if the associate real estate broker:
(1) obtains, from the other licensed real estate broker, a commitment providing that, on cancellation of the current affiliation of the associate broker and issuance of a new license certificate and pocket card to the associate broker, the associate broker shall become affiliated with the licensed real estate broker as an associate real estate broker; and
(2) complies with the application procedures under subsection (c) of this section.
Transfer of affiliation
(c) To transfer affiliation under this section, a qualified real estate salesperson or associate real estate broker shall:
(1) surrender the license certificate and pocket card of the salesperson or associate broker to the Commission;
(2) submit to the Commission a transfer application on the form that the Commission provides;
(3) submit to the Commission:
(i) acknowledgment from the licensed real estate broker with whom the salesperson or associate broker currently is affiliated that the affiliation is terminated; or
(ii) a statement from the salesperson or associate broker that the current affiliation of the salesperson or associate broker is terminated;
(4) submit to the Commission adequate evidence that the salesperson or associate broker has obtained, from a licensed real estate broker, a commitment providing that the salesperson or associate broker shall become affiliated with the licensed real estate broker as a real estate salesperson or an associate real estate broker on cancellation of the current affiliation of the salesperson or associate broker and issuance of a new license certificate and pocket card to the salesperson or associate broker; and
(5) pay to the Commission a transfer fee set by the Commission.
License certificates and pocket cards
(d) On compliance by the applicant with the procedures of subsection (c) of this section, the Commission shall issue a new license certificate and pocket card to each real estate salesperson and associate real estate broker who meets the applicable requirements under this subtitle.

Credits

Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989. Renumbered from Business Occupations and Professions § 16-311 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994. Amended by Acts 2005, c. 399, § 1, eff. July 1, 2006.
Formerly Art. 56A, § 4-311.
MD Code, Business Occupations & Professions, § 17-311, MD BUS OCCUP & PROF § 17-311
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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