§ 61-2f-302. Affiliation with a principal broker.

(1) An individual who is not a principal broker may not engage in an act described in Section 61-2f-201 unless the individual is affiliated with a principal broker as:

(a) an associate broker; or

(b) a sales agent.

(2)

(a) An inactive associate broker or sales agent may not conduct a real estate transaction until the inactive associate broker or sales agent becomes affiliated with a principal broker and submits the required documentation to the division.

(b) An inactive principal broker may not conduct a real estate transaction until the principal broker's license is activated with the division.

(3) A sales agent or associate broker may not affiliate with more than one principal broker at the same time.

(4) An individual may not be a principal broker of an entity and a sales agent or associate broker for a different entity at the same time.

(5) An owner, purchaser, lessor, or lessee who engages the services of a principal broker may designate which sales agents or associate brokers affiliated with that principal broker will also represent that owner, purchaser, lessor, or lessee in the purchase, sale, lease, or exchange of real estate, or in exercising an option relating to real estate.

Amended by Chapter 184, 2010 General Session
Renumbered and Amended by Chapter 379, 2010 General Session