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Maryland Code, Business Occupations and Professions § 17-311

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

(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.

(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.

(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.

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Cite this article: FindLaw.com - Maryland Code, Business Occupations and Professions § 17-311 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-occupations-and-professions/md-code-bus-occup-and-prof-sect-17-311/

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