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§ 17-319.1. Termination of broker by a business; designation of another individual to provide r...

West's Annotated Code of MarylandBusiness Occupations and ProfessionsEffective: October 1, 2023

West's Annotated Code of Maryland
Business Occupations and Professions
Title 17. Real Estate Brokers (Refs & Annos)
Subtitle 3. Licensing (Refs & Annos)
Effective: October 1, 2023
MD Code, Business Occupations & Professions, § 17-319.1
§ 17-319.1. Termination of broker by a business; designation of another individual to provide real estate brokerage services
Currentness
In general
(a) Subject to subsection (b) of this section, if a licensed real estate broker is terminated by a business for any reason, the business may designate another individual who is a licensed real estate broker to provide real estate brokerage services for the business.
Approval of the designation
(b)(1) If the license certificate and pocket card of a terminated real estate broker are surrendered to the Commission, the Commission shall approve the designation under subsection (a) of this section in accordance with all applicable laws and regulations.
(2) If the license certificate and pocket card of a terminated real estate broker are not surrendered to the Commission, the Commission shall approve the designation under subsection (a) of this section only if:
(i) the designated licensed real estate broker is in good standing with the Commission;
(ii) the business notifies the Commission of the reason for the termination of the real estate broker; and
(iii) the designation of the licensed real estate broker complies with all applicable laws and regulations.
Applicability of this title
(c) A licensed real estate broker who has been designated by a business under subsection (a) of this section is subject to all of the applicable provisions of this title that relate to real estate brokers.

Credits

Added by Acts 2023, c. 516, § 1, eff. Oct. 1, 2023.
MD Code, Business Occupations & Professions, § 17-319.1, MD BUS OCCUP & PROF § 17-319.1
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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