2005 Idaho Code - 54-2039 — BROKER AND BRANCH OFFICE MANAGER ABSENCES AND CHANGES

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 20
                        IDAHO REAL ESTATE LICENSE LAW
    54-2039.  BROKER AND BRANCH OFFICE MANAGER ABSENCES AND CHANGES. Each real
estate brokerage company must have a legally qualified individual acting as
designated broker at all times. Each branch office licensed under section
54-2016(4), Idaho Code, shall have, at all times, a legally qualified
individual acting as branch office manager.
    (1)  Broker or branch manager absent for more than twenty-one days. A
designated broker who is absent from his main office for more than twenty-one
(21) consecutive days shall appoint a qualified designated broker of another
office, or an associate broker who is licensed and associated with the absent
broker, to manage, supervise and oversee the regular office operations of the
company in his absence. A branch office manager who is absent for more than
twenty-one (21) consecutive days from a branch office in which trust funds and
original transaction files are maintained shall appoint a qualified individual
to manage, supervise and oversee the regular office operations of the company
in his absence. The appointee shall conduct all supervisory activities
normally required of the designated broker or branch manager. Except in the
event of an emergency, the designated broker or branch manager shall notify
the commission in writing of the name of the appointee prior to the broker or
manager leaving the office for an extended period of more than twenty-one (21)
consecutive days.
    (2)  Broker or branch manager absent for more than sixty days. A
designated broker, or manager of a branch office in which trust funds and
original transaction files are maintained, shall not be absent from his main
office for a period longer than sixty (60) consecutive days. In the case of
such extended absence, another qualified individual shall be designated to act
as broker or branch office manager. If a designated broker is absent from his
main office for a period longer than sixty (60) consecutive days, and no new
broker is designated to act as broker for the brokerage company, the
commission shall place on inactive status the licenses of the absent  broker
and of all licensees associated with him, and all brokerage listing agreements
and all buyer brokerage agreements shall be terminated.
    (3)  Change of broker in business entity. A license issued to a legal
business entity, as defined in this chapter, is effective only as long as the
individual designated broker's license is in active status and in effect. If
the individual so designated has a license refused, revoked, suspended or
otherwise made inactive by the commission, or if the individual designated
broker voluntarily surrenders the individual license or ceases to be connected
with the entity in the manner required in this chapter, the business entity
shall have ten (10) business days in which to designate another qualified
individual as designated broker before the entity's license is terminated, and
the licenses of all associated licensees are made inactive.
    (4)  Effective date of changes. No change in designated broker shall be
effective until written notice is received and approved by the commission, in
the form required.
    (5)  Failure to comply -- Original broker to remain responsible except in
the case of revocation. Where a licensed brokerage company fails to comply
with this section and its office is closed, or during any period where the
designated broker has left the brokerage company and no new broker has been
designated to act for the company, the original designated broker shall remain
responsible for trust account funds, pending transactions and records in the
manner described in sections 54-2041 through 54-2049, Idaho Code. However, if
the license of the original designated broker of the brokerage company is
revoked, the license of that brokerage company shall be made inactive and its
office closed until the company designates another qualified individual to act
as broker.