2006 Louisiana Laws - RS 37:1437.2 — Corporations; limited liability companies; partnerships; real estate brokers\' licenses
§1437.2. Corporations; limited liability companies; partnerships; real estate brokers' licenses
A. Any corporation, limited liability company, or partnership formed under the laws of this state or any foreign corporation, limited liability company, or partnership which has been granted a certificate of authority to do business in this state may be granted a real estate broker's license by the commission upon application and compliance with the requirements of this Chapter.
B. Every application for a corporate, limited liability company, or partnership real estate broker's license shall be submitted by a licensed individual real estate broker who has been chosen by the corporation, limited liability company, or partnership as its qualifying broker. An individual real estate broker may serve as a qualifying broker for more than one corporation, limited liability company, or partnership.
C. Upon dissolution, a corporation, limited liability company, or partnership shall return the license of the designated qualifying broker, and the license of every sponsored licensee to the commission within ten days of the dissolution.
D. Upon termination of a qualifying broker's affiliation with a corporation, limited liability company, or partnership for any reason, the corporation, limited liability company, or partnership shall notify the commission and designate a new qualifying broker within five working days. A corporation, limited liability company, or partnership may designate a new qualifying broker at any time.
E. Upon the merger or consolidation with another corporation, limited liability company, or partnership, the corporation, limited liability company, or partnership shall notify the commission not later than five working days following the effective date of the merger or consolidation.
F.-I. Repealed by Acts 1999, No. 452, §3.
Added by Acts 1983, No. 380, §1. Acts 1989, No. 655, §1, eff. Jan. 1, 1990; Acts 1995, No. 1207, §1; Acts 1997, No. 845, §1; Acts 1999, No. 452, §3.
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