32 §13180. Termination of employment
Title 32: PROFESSIONS AND OCCUPATIONS
Chapter 114: REAL ESTATE BROKERAGE LICENSE ACT HEADING: PL 1987, C. 769, PT. A, §125 (RPR)
Subchapter 3: REAL ESTATE BROKERAGE AGENCY HEADING: PL 1987, C. 395, PT. A, §212 (NEW)
§13180. Termination of employment
When any broker, associate broker or real estate sales agent is discharged or terminates his employment with a brokerage agency, it shall be the duty of the designated broker to immediately deliver the license of the broker, associate broker or real estate sales agent to the commission. The designated broker shall simultaneously address a communication to the last known address advising the broker, associate broker or sales agent that his license has been delivered or mailed to the commission. A copy of the communication shall accompany the license when delivered to the commission. [1987, c. 395, Pt. A, §212 (NEW).]
Upon receipt of the notice of termination by the licensee, the license shall become void and may only be reinstated or placed on inactive status after proper application and payment of the prescribed fee. It is unlawful for any broker, associate broker or real estate sales agent to perform any brokerage services without first receiving a new active license. [1987, c. 395, Pt. A, §212 (NEW).]
SECTION HISTORY
1987, c. 395, §A212 (NEW).