An Ohio broker decides to close his brokerage and retire. He has 20 active salespersons. Under Ohio Division rules, the broker must:
Correct Answer
C) Notify the Division, ensure all salespersons transfer to new brokers, disburse all trust funds, and properly close the trust account
Closing a brokerage requires an orderly process: notifying the Division of Real Estate, ensuring all salespersons properly transfer their licenses to new brokers, disbursing all trust funds to the appropriate parties, closing the trust account, and maintaining records as required.
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