Current through Register Vol. 54, No. 24, June 15, 2024
Section 37.34 - Broker application procedures(a) An individual broker, qualifying active partner of a partnership or qualifying active officer of a corporation shall apply using the appropriate application form.(b) The broker application shall be subscribed and sworn to before a notary public. Applications executed more than 3 months prior to the date of filing with the Department will not be accepted.(c) The broker will be held responsible for the statements contained in the application. The making of a false statement in an application may constitute a ground for license denial or revocation.(d) Initial licenses will be valid as of the date issued by the Department until the expiration date stated on the license.(e) Partnerships or corporations shall apply using the appropriate application form. The form shall be signed in the name of the partnership or corporation by each of its qualifying active partners or qualifying active officers, include a listing of partners or officers, and be accompanied by the appropriate application form for each qualifying active partner or qualifying active officer.(f) Employes of partnerships and corporations who apply for a license shall apply individually.(g) Qualifying active partners or qualifying active officers shall complete the appropriate application form.(h) To be licensed, a partnership or corporation shall have at least one qualifying active partner or one qualifying active officer as described in § 37.37 (relating to corporation or partnership certificate/license). The worthiness of a partnership or corporation to be licensed is determined by the worthiness of the qualifying active partners or qualifying active officers.(i) Anyone who solicits, negotiates or places risks, regardless of employment or official connection with a partnership or corporation, and acts in the name of the partnership or corporation or individually, shall be licensed individually.(j) When the Commissioner is satisfied that the applicant is worthy of a broker license and the applicant has passed the appropriate broker examination or qualified for a waiver, the Commissioner will issue a license stating that the broker has complied with the law and has been authorized by the Department to transact business within this Commonwealth. This section cited in 31 Pa. Code § 37.31 (relating to general application requirements).