RULE 076.00.05-002 - Regulation 7.4 - Branch Office

RULE 076.00.05-002. Regulation 7.4 - Branch Office

Regulation 7.4 Branch Office.

(a) All branch offices shall have and display a real estate sign and a duplicate principal broker's license. Principal Brokers who wish to open a branch office shall furnish the commission a photograph of the office sign bearing the name of the company and the words "Branch," "Branch Office," or some other variation which must include the word "Branch." If licensees are to be licensed at that branch office, an executive broker shall be designated by the principal broker, to be in charge of the branch office. Such executive broker shall be responsible for any licensee licensed with such branch office pursuant to a written designation of responsibility filed by the principal broker with the Commission on a form provided by the Commission consistent with Regulation 10.4(a)(1), and shall not be gainfully employed or engaged in any non-real estate related field pursuant to Regulation 10.4(e).

(b) If such branch office, maintains its own trust account or separate escrow agent the principal broker shall be responsible and accountable for any and all trust funds received by the branch office and any and all deposits to or disbursements from the trust account.

[Amended 11-1-05]

(10/10/2005)

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