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North Dakota Century Code Title 43. Occupations and Professions § 43-23-05.1. Organization of salesperson, broker, or broker associate permitted to be licensed--Fees

Current as of January 01, 2024 | Updated by FindLaw Staff

1. The commission may license an organization of a salesperson, broker, or broker associate if:

a. The organization is owned solely by an individual who is licensed as a salesperson, broker, or broker associate, or by that individual and that individual's spouse, or by that individual and other salespersons, brokers, and broker associates within the same firm as that individual;

b. The organization does not engage in any real estate transactions as a third-party agent or in any other capacity requiring a license under this chapter; and

c. The organization does not advertise or otherwise portray to the public the organization is a real estate broker or real estate brokerage firm.

2. The employing or associating broker of a salesperson, broker, or broker associate who is part of an organization is not relieved of any obligation to supervise the employed or associated salesperson, broker, or broker associate or of any other requirements under this chapter.

3. An individual who forms an organization is not by nature of that act relieved of any personal liability for licensed activities.

4. The commission may adopt rules establishing a one-time license fee for an organization licensed as a salesperson, broker, or broker associate.

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Cite this article: FindLaw.com - North Dakota Century Code Title 43. Occupations and Professions § 43-23-05.1. Organization of salesperson, broker, or broker associate permitted to be licensed--Fees - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-43-occupations-and-professions/nd-cent-code-sect-43-23-05-1/

Read this complete North Dakota Century Code Title 43. Occupations and Professions § 43-23-05.1. Organization of salesperson, broker, or broker associate permitted to be licensed--Fees on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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