Or. Admin. R. 863-014-0085

Current through Register Vol. 63, No. 6, June 1, 2024

Section 863-014-0085 - Authorization to Control Broker's Business

(1) A principal real estate broker may authorize another principal broker to control and supervise his or her professional real estate activity and use the authorizing principal broker's registered business name, if any, during the principal broker's absence only if:

(a) The authorizing principal broker provides written authorization as required by this rule, and

(b) The supervising principal broker accepts the supervising responsibility in writing.

(2) Both licensees have joint responsibility for all professional real estate activity conducted during the authorizing principal broker's absence.

(3) The written authorization required by this rule must contain the following information:

(a) The authorizing principal broker's authorization, including the effective date and the termination date of such authorization, which may not exceed 90 days;

(b) The supervising principal broker's affirmation accepting the supervisory responsibility; and

(c) An affirmation by both brokers acknowledging that they are jointly responsible for the professional real estate activity during the dates of the authorization.

(4) The authorizing principal real estate broker may end the authorization before the termination date by filing an amended authorization before the termination date.

(5) The written authorization required by this rule must be received by the Agency before the effective date of such authorization on an Agency-approved form. The commissioner may allow a later filing for good cause shown.

(6) The Agency will maintain the written authorization as an Agency record.

(7) This rule provides an exception to OAR 863-014-0095(7), which prohibits a principal broker from engaging in professional real estate activities under more than one registered business name. That is, a supervising principal broker may conduct professional real estate activity under both the authorizing principal broker's registered business name and the supervising principal broker's registered business name if the parties meet the requirements contained in this rule. This exception does not allow a principal broker to conduct professional real estate activity under more than these two registered business names.

Or. Admin. R. 863-014-0085

REA 1-2002, f. 5-31-02, cert. ef. 7-1-02; REA 1-2003(Temp), f. 2-27-03, cert. ef. 2-28-03 thru 8-27-03; REA 3-2003, f. 7-28-03, cert. ef. 8-1-03; REA 3-2004, f. 4-28-04 cert. ef. 5-3-04; Renumbered from 863-015-0085, REA 5-2008, f. 12-15-08, cert. ef. 1-1-09; REA 1-2009, f. 12-15-09, cert. ef. 1-1-10

Stat. Auth.: ORS 696.385

Stats. Implemented: ORS 696.026