790-X-2.04. Additional Broker License.

(1) A broker doing business in the name of a corporation or partnership and
who also desires to do business as a sole proprietorship or for another
corporation or partnership located at the same address must obtain and
submit to the Commission a letter of consent from all officers of the corporation,
or partners of the partnership.
(2) A corporation, partnership, or sole proprietorship may grant permission
for its qualifying broker to be qualifying broker for another corporation,
partnership or sole proprietorship doing business in the same location. Any
licensee licensed under a broker who serves as qualifying broker for more
than one corporation, partnership or sole proprietorship operating from the
same address may operate under either corporation, partnership or sole
proprietorship sharing the same qualifying broker.
(3) A qualifying broker for a real estate company may serve as an associate
broker for another real estate company at the same location.
(4) A broker may serve as a qualifying broker for a real estate company and
a vacation timesharing plan provided that both are located at the same
address.
(5) A broker shall hold a separate license for each firm which he represents
as a broker.
Statutory Authority:

Code of Ala. 1975, §§ 34-27-8, 34-27-32.

History:

Filed September 30, 1982. Amended: Filed
November 21, 1983; December 18, 1984; March
28, 1985; August 7, 1992.