Under TREC rules, a broker who dies while operating a brokerage with sponsored sales agents creates a situation that must be addressed. What happens to the brokerage and its agents?
Correct Answer
A) TREC may appoint a temporary broker to wind down the brokerage's affairs, and the agents must find new sponsors
Under TREC rules, when a designated broker dies, TREC may authorize a temporary arrangement to wind down the brokerage's pending affairs. The sponsored agents must find new sponsoring brokers, as they cannot continue to practice without an active sponsoring broker.
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