A broker in PA wants to know what happens if the SREC suspends a broker of record's license. How does this affect the brokerage?
Correct Answer
C) The brokerage must designate a new broker of record immediately or cease operations
If the broker of record's license is suspended, the brokerage must immediately designate a new qualified broker of record or cease operations. A brokerage cannot operate without a properly licensed broker of record.
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A PA salesperson decides to place their license on inactive status to take a break from the industry. Must they continue to complete CE while on inactive status?
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The SREC issues an emergency temporary suspension of a licensee's license. Under what circumstances can the SREC take this emergency action?