Section 17-527.1 - Cessation of errors and omissions insurance.
§ 17-527.1. Cessation of errors and omissions insurance.
(a) Applicability.- This section applies to a real estate broker who purchases errors and omissions insurance that provides coverage to the associate real estate brokers and the real estate salespersons who are affiliated with or employed by the real estate broker.
(b) Notice of discontinuance to covered associates.- A real estate broker shall provide immediate notice of a discontinuance of the broker's errors and omissions insurance to those associate real estate brokers and real estate salespersons who were covered under the broker's policy.
[1997, ch. 389; 1998, ch. 628.]