Okla. Admin. Code § 605:10-9-1

Current through Vol. 42, No. 2, October 1, 2024

Section 605:10-9-1 - Place of business and broker requirements

(a)Place of business. Each broker shall maintain a specific place of business, and supervise a brokerage practice which is available to the public during reasonable business hours. Each broker shall be available to manage and supervise such brokerage practice and comply with the following:

(1) The place of business shall consist of at least one enclosed room or building of stationary construction wherein negotiations and closing of real estate transactions of others may be conducted and carried on with privacy and wherein the broker's books, records and files pertaining to real estate transactions of others are maintained.

(2) Each broker shall register for each place of business a physical business address and office telephone number(s).

(b)Branch offices. If a broker maintains one or more places of business, the additional places of business shall be referred to as a branch office.

(c)Office located at residence. The office may be in the residence of the broker.

(d)Associates not permitted to have an office. Associates are not permitted to have a place of business, but must be registered with a place of business maintained and registered in the name of the broker.

(e)Licenses issued to place of business. All licenses will be issuedelectronically to each licensee in the individual License Portal.

(f)Broker may be broker for more than one firm. A broker may be the broker for more than one firm so long as the firms are at the same location.

(g)Broker is responsible for acts of unlicensed assistants. A broker is responsible for all real estate related activities of any unlicensed assistant working within the firm.

Okla. Admin. Code § 605:10-9-1

Amended at 8 Ok Reg 2071, eff 7-1-91; Amended at 12 Ok Reg 1813, eff 7-1-95; Amended at 15 Ok Reg 3322, eff 7-13-98; Amended at 16 Ok Reg 2561, eff 7-1-99; Amended at 20 Ok Reg 2563, eff 7-11-03; Amended at 27 Ok Reg 1940, eff 7-1-10; Amended at 28 Ok Reg 1812, eff 7-1-11; Amended at 29 Ok Reg 1402, eff 7-1-12

Amended by Oklahoma Register, Volume 38, Issue 23, August 16, 2021, eff. 11/1/2021