A Rhode Island principal broker reviews a licensee disaffiliates from a brokerage. Which answer follows Rhode Island law?
Correct Answer
A) The licensee does not return the license unless it has been revoked or the licensee wishes to surrender it
230-RICR-30-20-2 § 2.10 states that licensees are not required to return their license unless revoked or surrendered. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 §§ 2.5-2.13 and 2.30, plus R.I. Gen. Laws §§ 5-20.5-4, 5-20.5-11, and 5-20.5-25 where applicable; checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
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