N.D. Admin. Code 70-02-01-11

Current through Supplement No. 393, July, 2024

Section 70-02-01-11 - Branch office

1.Definition. If a broker maintains more than one office, then one office shall be designated as the main office and each additional office shall constitute a branch office. If a real estate broker maintains a regular office, the broker's home shall not be considered a branch office.

2.Applications. The broker desiring to open a branch office shall file with the commission an application for a branch office license on forms provided by the commission.

3.Supervision. The applicant broker must designate the applicant broker or another licensee to act as branch office manager to aid the broker in actively managing each branch office and to aid the broker in supervising the licensees working from such branch office. The designated licensee shall be responsible for all activities of that branch office. The applicant broker may designate the applicant broker to act as manager for all branch offices.

4.Notification to commission of change. It shall be the responsibility of the applicant broker to notify the commission in writing of any change of address of a branch office or change of supervisor of the branch office, within five days after the change.

5.Notification to commission. The applicant broker shall at all times notify the commission of the location and address of each branch office which the broker operates and the name of the licensee who supervises the branch office.

6.Additional office. Every additional office or place of business, other than the principal place of business of a broker, shall be licensed only with the approval of the commission and only after the applicant broker has given satisfactory proof that this additional office shall be under the supervision of a duly authorized licensee.

7.Display license. A branch license shall be displayed in the branch office or listed on the broker's website, shall bear the address of the branch office, and shall bear the name of the licensee designated to actively manage the branch office.

8.Identical name. The branch office must be operated under the same name as the principal office.

N.D. Admin Code 70-02-01-11

Amended effective December 1, 1999.

Amended by Administrative Rules Supplement 2022-385, July 2022, effective 7/1/2022.

General Authority: NDCC 28-32-02, 43-23-08, 43-23-11.1(3)

Law Implemented: NDCC 43-23-12, 43-23-13(5)