§16-99-2

Definitions

“Broker-in-charge” redefined to allow a broker-in-charge to be appointed to more than one branch office. The change will provide brokerages with more flexibility in the management of real estate licensees and reflects the commission’s interpretation of broker-in-charge in its Laws and Rules Review Committee meeting November 14, 2001.

New Rule
Old Rule
“Broker-in-charge” means an individual broker licensee designated by the principal broker as the broker directly in charge of and responsible to the principal broker for the real estate operations conducted at the principal place of business or a branch office. The principal broker may designate one or more brokers-in-charge of the principal place of business or branch office, provided that there shall be at least one broker-in-charge of each branch office. A broker-in-charge may be designated to more than one branch office.
“Broker in charge” means an individual broker licensee designated by the principal broker as the broker directly in charge of and responsible to the principal broker for the real estate operations conducted at the principal place of business or a branch office. The principal broker may designate one or more brokers in charge of the principal place of business or branch office, provided that there shall be at least one broker in charge of each branch office.