Section 17-518 - Branch offices. - Maryland Statutes

§ 17-518. Branch offices.
 

(a)  In general.- Subject to the provisions of this subtitle, a licensed real estate broker may maintain branch offices in the State. 

(b)  Branch office certificate.- A licensed real estate broker shall obtain a branch office certificate before the broker may maintain a branch office in the State. 

(c)  Application for branch office certificate.-  

(1) An applicant for a branch office certificate shall: 

(i) submit to the Commission an application on the form that the Commission provides; 

(ii) submit to the Commission written notice of the identity of the individual appointed as manager of the branch office under subsection (d) of this section; and 

(iii) pay to the Commission an application fee of $5. 

(2) The Commission shall issue a branch office certificate to each licensed real estate broker who meets the requirements of this section. 

(d)  Branch office manager.-  

(1) Subject to paragraph (2) of this subsection, the licensed real estate broker shall designate a manager for each branch office of the broker. 

(2) The manager shall be: 

(i) a licensed associate real estate broker; 

(ii) a licensed real estate salesperson who has at least 3 years' experience providing real estate brokerage services; or 

(iii) a licensed real estate salesperson who: 

1. has completed successfully a course in real estate approved by the Commission for real estate brokers; and 

2. has passed the real estate broker's examination given by the Commission under § 17-306 of this title. 

(3) A licensed real estate salesperson seeking to qualify as a branch office manager under paragraph (2)(iii) of this subsection shall submit to the Commission, before taking the real estate broker's examination, a commitment from the licensed real estate broker proposing to engage the salesperson as a branch office manager. 

(4) The manager shall have the responsibility to supervise the provision of real estate brokerage services by the associate brokers and sales agents registered to that office as provided for in § 17-320 of this title. 

(e)  Term and renewal of branch office certificate.-  

(1) Unless a branch office certificate is renewed for a 2-year term as provided in this subsection, the certificate expires on the first April 30 that comes: 

(i) after the effective date of the certificate; and 

(ii) in an even-numbered year. 

(2) Before a branch office certificate expires, a licensed real estate broker periodically may renew it for an additional 2-year term, if the broker: 

(i) submits to the Commission a renewal application on the form that the Commission provides accompanied by the license renewal application of the manager of the branch office; and 

(ii) pays to the Commission a renewal fee of $5. 

(3) The Commission shall renew the branch office certificate of each licensed real estate broker who meets the requirements of this section. 
 

[An. Code 1957, art. 56A, § 4-518; 1989, ch. 3, § 1; 1994, ch. 3, § 13; ch. 53; 2006, ch. 188.]