La. Admin. Code tit. 46 § LXVII-2301

Current through Register Vol. 50, No. 12, December 20, 2024

Section LXVII-2301 - Branch Office License

A. An office established by a broker or sponsored licensee for conducting any real estate license activity at a separate address from the registered address of the broker, wherein the name and telephone number of the broker or agency is advertised in any way, shall be considered a branch office and shall be licensed as such.

B. An application for a branch office license shall be submitted on the forms prescribed by the commission and accompanied by the fees prescribed in R.S. 37:1443.

C. Every branch office shall be under the direct supervision of a licensed individual broker who shall be designated in writing as the branch office manager. A copy of the designation shall be submitted to the commission within five days following the date of the original designation or any changes thereto. Nothing shall preclude a sponsoring broker from acting as the branch office manager for one or more branch offices.

D. A broker designated as a branch office manager shall be subject to the duties and penalties prescribed for sponsoring brokers in R.S. 37:1430 et seq.; however, this shall not relieve the sponsoring broker of the ultimate responsibility for the branch office operation.

La. Admin. Code tit. 46, § LXVII-2301

Promulgated by the Department of Economic Development, Real Estate Commission, LR 26:42 (January 2000), amended by the Office of the Governor, Real Estate Commission, LR 28:829 (April 2002), amended LR 32:1450 (August 2006), LR 37:3003 (October 2011).

AUTHORITY NOTE: Promulgated in accordance with R.S. 37:1431 et seq.