Tom's corporation 'Elite Properties Inc.' has been dissolved by the state. Tom wants to continue operating under the same name as a sole proprietorship. What must he do with FREC?
Correct Answer
B) Register 'Elite Properties Inc.' as a fictitious name
Correct: Since 'Elite Properties Inc.' was the corporation's legal name, Tom must now register it as a fictitious name to continue using it as a sole proprietor. Why not A: The change in business structure requires proper registration. Why not C: A new entity registration isn't needed for sole proprietorship, only fictitious name registration. Why not D: There's no waiting period requirement for name reuse in this situation.
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More Brokerage Activities Procedures Questions
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- → Sales associate David wants to create business cards for networking events. What must appear on his business cards to comply with Florida law?
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