When a Montana broker closes their real estate office or ceases operations, what happens to the licenses of the salespersons affiliated with that broker?
Correct Answer
B) Their licenses must be transferred to a new broker or placed on inactive status
Under Montana law, a salesperson's license is held under a supervising broker. If that broker closes their office or ceases operations, the affiliated salespersons cannot practice independently. Their licenses must either be transferred to a new qualifying broker or placed on inactive status with the Montana Board of Realty Regulation until a new broker is secured.
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