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Practice Of Real EstateLicense LawMEDIUM

A broker-in-charge in Greensboro is updating the policy manual on firm, office, BIC, and entity requirements. Which statement best applies under current North Carolina law?

Correct Answer

A) Entity status matters because an inactive or dissolved entity should not continue conducting enforceable brokerage business as if fully active.

Entity status matters because an inactive or dissolved entity should not continue conducting enforceable brokerage business as if fully active.

Answer Options
A
Entity status matters because an inactive or dissolved entity should not continue conducting enforceable brokerage business as if fully active.
B
A BIC may ignore the Secretary of State status of the firm entity under current North Carolina rules
C
An administratively dissolved entity may continue signing brokerage agreements with no legal risk.
D
Entity status matters only for tax purposes, not brokerage authority under current North Carolina rules

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Related Topics & Key Terms

Key Terms:

core_rules_and_definitionsdifficulty_3entity_statusfirm_licensefirm_office_bic_and_entity_requirementsnc_commission_rulesnc_statenorth_carolinaoffice_compliance
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