An Ohio broker wants to form a real estate corporation. Under Ohio law, which requirement must be met for the corporation to operate as a real estate brokerage?
Correct Answer
D) At least one officer must hold a broker's license and be designated as the principal broker
Under ORC §4735.07, a real estate corporation must have at least one officer who holds a broker's license and is designated as the principal broker responsible for the brokerage operations. Not all shareholders or officers need to be licensed.
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