Iowa Admin. Code r. 193E-8.2 - Involuntary closing of a sole-proprietor brokerage

Upon the death or disability of a sole-proprietor broker in which the affairs of the broker cannot be carried on, the following steps are necessary for closing the real estate brokerage business:

(1) All licensees associated with the broker cease all brokerage activity until their licenses have been transferred to another broker;

(2) The executor or legal representative of the broker's estate, if an attorney or a broker, may conclude pending business; and

(3) The administrator or executor of the broker's estate or the legal representative of the broker may follow the procedures established in rule 193E-8.1 (543B) for voluntary closing.

Notes

Iowa Admin. Code r. 193E-8.2

Adopted by IAB April 17, 2024/Volume XLVI, Number 21, effective 5/22/2024