Chapter 3: Licensure, Renewal, License Status & Insurance

Chapter 3, which was codified from former parts of the A, C, and D Rules, sets forth the requirements for licensure, renewal, license status, and insurance requirements for Brokers. For applicants that have prior or pending criminal conduct, Rule 3.4. was modified to clarify the required and supplemental documentation to support either a formal application or preliminary advisory opinion. Additionally, Rule 3.12.B. was modified to clarify that it is the responsibility of both the Employing Broker and Associate Broker to immediately notify the Commission when the employment of the Associate Broker terminates. The party terminating the employment must notify the other party in person or in writing regarding the termination. Chapter 3 seeks to arrange the requirements for licensure, renewal, license status and insurance to be quickly referenced.