An independent contractor of a Georgia broker works from an address in 2026 and meets the statutory exemption conditions. How is the exempt contractor location treated under the physical-place-of-business rule?
Correct Answer
B) That location is treated as a branch under the place of business rule
A location is a branch where an independent contractor of a licensed mortgage broker operates from it and all the conditions for the statutory exemption are satisfied, and a branch manager includes such a contractor working from a branch. Other choices: the contractor status is what this condition is written about; storing files is a separate condition that would also apply; and the net branch answer belongs to an operation outside the licensee daily control. Source: Ga. Comp. R. & Regs. 80-11-1-.03(4)(e)
Why This Is the Correct Answer
A location is a branch where an independent contractor of a licensed mortgage broker operates from it and all the conditions for the statutory exemption are satisfied, and a branch manager includes such a contractor working from a branch. Other choices: the contractor status is what this condition is written about; storing files is a separate condition that would also apply; and the net branch answer belongs to an operation outside the licensee daily control. Source: Ga. Comp. R. & Regs. 80-11-1-.03(4)(e)
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