61-2f-302 - Affiliation with a principal broker. - Utah Statutes

61-2f-302. Affiliation with a principal broker.
(1) An individual who is not a principal broker may not engage in an act described inSection 61-2f-201 unless the individual is affiliated with a principal broker as:
(a) an associate broker; or
(b) a sales agent.
(2) (a) An inactive associate broker or sales agent may not conduct a real estatetransaction until the inactive associate broker or sales agent becomes affiliated with a principalbroker and submits the required documentation to the division.
(b) An inactive principal broker may not conduct a real estate transaction until theprincipal broker's license is activated with the division.
(3) A sales agent or associate broker may not affiliate with more than one principalbroker at the same time.
(4) An individual may not be a principal broker of an entity and a sales agent or associatebroker for a different entity at the same time.
(5) An owner, purchaser, lessor, or lessee who engages the services of a principal brokermay designate which sales agents or associate brokers affiliated with that principal broker willalso represent that owner, purchaser, lessor, or lessee in the purchase, sale, lease, or exchange ofreal estate, or in exercising an option relating to real estate.

Amended by Chapter 184, 2010 General Session
Renumbered and Amended by Chapter 379, 2010 General Session