Under RELA, a Pennsylvania broker wants to change the business structure of the brokerage from a sole proprietorship to an LLC. What must the broker do to comply with RELA?
Correct Answer
D) Notify the SREC of the entity change and obtain a new or amended broker license under the LLC entity
Under RELA, any change in the brokerage's organizational structure requires notification to the SREC and obtaining appropriate licensure under the new entity. The Broker of Record must ensure the LLC is properly licensed.
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More Pa Rela License Law Questions
Under RELA, Pennsylvania's 14-hour CE requirement includes specific mandatory topics. All of the following may satisfy CE requirements EXCEPT:
Under RELA, where can a Pennsylvania licensee verify whether a CE course is SREC-approved before enrolling?
Patricia, a Pennsylvania salesperson, is asked by her broker to manage a branch office location. Under RELA, which requirement must be met for Patricia to manage a branch office?
Under RELA, a newly licensed Pennsylvania salesperson asks whether the 14-hour CE requirement applies to both salespersons and brokers. Which of the following is correct?
Under RELA, how often must Pennsylvania real estate licensees renew their licenses?
- → Under RELA, a Pennsylvania licensee who held an active license for 25 years is approaching retirement and wonders about the status of their license after retirement. If the licensee stops renewing, what is the ultimate status of the license?
- → Under RELA, the SREC discovers that a CE course provider has been issuing completion certificates to students who did not actually attend or complete the course. What action may the SREC take against the provider?
- → Laura, a Pennsylvania salesperson, completed 10 hours of CE before her renewal deadline but needs 14 hours. She realizes she is 4 hours short on the day before the renewal deadline. Under RELA, what happens if Laura fails to complete the required CE before renewal?
- → Under RELA, a Pennsylvania salesperson, Marcus, learns that the SREC has opened an investigation into his conduct. Marcus wants to know if he can continue working during the investigation. Which statement is correct?
- → Under RELA, a Pennsylvania broker of record, Alan, voluntarily surrenders his license to the SREC while facing disciplinary charges for trust account violations. What effect does the voluntary surrender have?
- → Under RELA, after the SREC issues a final disciplinary order, a Pennsylvania licensee disagrees with the decision. What is the licensee's avenue of appeal?
- → Under RELA, a Pennsylvania broker, Diane, is charged by the SREC with failing to supervise a salesperson who committed fraud. Diane claims she had no knowledge of the salesperson's actions. Which statement is MOST accurate regarding Diane's liability?
- → Under RELA, the Pennsylvania licensing examination for real estate salespersons is administered by which entity?
- → Under RELA, a Pennsylvania real estate salesperson must meet which of the following education prerequisites before applying for a license?
- → Under RELA, a salesperson in Pennsylvania may work for only one broker at a time. If salesperson Alice wants to refer a client to an agent in a different brokerage, what is the proper procedure?
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Under RELA, a Pennsylvania real estate salesperson must meet which of the following education prerequisites before applying for a license?
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Under RELA, an Associate Broker in Pennsylvania has certain abilities. All of the following statements about an Associate Broker are true EXCEPT: