If an officer wishes to act as broker on his or her own behalf, what must they do?

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Multiple Choice

If an officer wishes to act as broker on his or her own behalf, what must they do?

The important idea is that licensing authority is tied to the person performing the broker activities. A corporate license covers brokerage done by the company and its officers when acting in that corporate role. If an officer wants to broker for himself or herself, he or she must have a license issued to that individual, in their own name. That’s why procuring a separate license is required before acting on personal behalf. Continuing under the corporate license would still tie the activity to the company, not to the officer personally. Transferring the license to the corporation doesn’t solve the need for an individual license if the officer wants to operate personally. Written permission from the department isn’t a substitute for a proper license in the person’s name.

The important idea is that licensing authority is tied to the person performing the broker activities. A corporate license covers brokerage done by the company and its officers when acting in that corporate role. If an officer wants to broker for himself or herself, he or she must have a license issued to that individual, in their own name. That’s why procuring a separate license is required before acting on personal behalf.

Continuing under the corporate license would still tie the activity to the company, not to the officer personally. Transferring the license to the corporation doesn’t solve the need for an individual license if the officer wants to operate personally. Written permission from the department isn’t a substitute for a proper license in the person’s name.

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