(4) (a) The licensee may remain in an inactive state of licence indefinitely, provided that the licensee complies with the inactive annual renewal procedures. Licensees who remain inactive for five years or more must complete a maximum of eighty hours of approved training during the five-year period immediately preceding the application to return to active licence status. B. Each licensee, registrant and certificate holder must fully cooperate with and respond to Commission personnel conducting an investigation, investigation or inspection of records. H. A sponsored property permit holder is for all intents and purposes an independent contractor of the sponsor or qualified broker and may not be an employee of the promoter or qualified broker if all of the following conditions are met: G.(1) Associate brokers, sellers and sellers of timeshare interests may not engage in any activity requiring a licence or registration until such licence or timeshare interest holder may not engage in any activity requiring a licence or registration until such licence or licence registration has been issued and is in the custody of the sponsoring broker. or with a timeshare developer. One. Any company, limited liability company or partnership incorporated under the laws of that State, or any foreign company, limited liability company or partnership that has obtained a certificate of authority to carry on business in that State may obtain a real estate brokerage permit from the Commission upon application and in accordance with the requirements of this Chapter. C.
No real estate agent or seller`s license may be issued to a person who has not yet reached the age of eighteen. No real estate agent or seller`s licence may be issued to a person who is not a high school graduate or holds a high school equivalency certificate. (13) Offer induces or in any way encourage a party to a written contract involving the sale, lease or management of real estate to terminate this contract in order to replace a new contract with another principal or licensee instead of such a contract. (2) An outgoing qualified broker shall notify all sponsored licensees by registered or registered mail within five calendar days after termination, including the effective date. D. No person who carries out a real estate activity without a valid licence is entitled to receive compensation for services provided in this way. In addition to any other penalty imposed under S.R. 37:1455 and 1458, the Commission may require any person who carries on real estate activities without a permit to reimburse all fees required for the carrying on of immovable activities. To use the property of another company, you usually have to pay some kind of royalty.
You might be able to pay this in an upfront amount or create a payment plan based on the property`s sales. For example, a license agreement may stipulate that the licensee must pay 1% of all sales to the licensor. If a licensee earns $10 per item, they owe the licensor 10 cents for each item sold. E. The Board has the right to summon any licensee, declarant, certificate holder or witness to hold a hearing or promote an authorized investigation. Failure of a licensee or registrant to comply with a subpoena or subpoena will be punishable by the Commission under R.S. 37:1455. E.
An inactive licensee is not required to meet the training requirement established for active licensees on an annual basis; However, upon request to return to active license status, the licensee must have completed the following training: When a party grants a license to something, it wants to ensure that it is used correctly. This section of the Agreement describes how Licensee will ensure that this happens. This may include regular quality assurance checks or give Licensor the right to monitor sales. One. The licensee or licensee shall not pay any commission or compensation to any person who has not already obtained a licence or registration in accordance with the provisions of this Chapter. This subdivision does not apply to a non-resident broker who is currently licensed in his or her State of residence. (10) `options trading` means a person, partnership, partnership, limited liability company, association or corporation that acquires, directly or indirectly, an option to purchase, exchange, lease or lease real estate or shares thereof with the intention or for the purpose of purchasing, sell, exchange, lease or lease such property or its interests in others; receives or uses; whether or not this option is in its name and whether or not ownership of such property is transferred to the name of that person, company, partnership, limited liability company, association or corporation in connection with the purchase, sale, exchange, rental or lease of such property. C.
During the period during which the licence is inactive, the licensee shall be prohibited from engaging in any activity requiring a real estate licence. The licensee is required to renew the inactive licence annually by submitting the required renewal application and paying the fees for inactive renewals set out in this Chapter. .