Florida Regulations 5N-1.124: Prohibited Activities and Requirements
Current as of: 2024 | Check for updates
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Individual licenses and an agency identification card must be in the possession of the licensee at all times while on duty.
(1) No licensee shall operate under any name other than its licensed name. The use of any address other than the licensed address(es) is prohibited in any public advertisement.
(2) All records of each licensee must be kept separate and apart from all other licensees regardless of whether operating out of the same office or owned by the same individual partnership or corporation.
(3) No person, firm or corporation possessing a valid agency license shall permit any other person, firm or corporation possessing any financial interest in such licensed business to exert or maintain operational control over such licensed business. Licensed agencies and branch offices shall not commence regulated activity until a properly licensed manager has been designated and employed.
Rulemaking Authority 493.6103 FS. Law Implemented 493.6106(2)(d), 493.6111, 493.6118(1)(b), (g), (n) ,(p), (q), 493.6121 FS. History-New 2-4-91, Amended 7-31096, Formerly 1C-3.124.
Terms Used In Florida Regulations 5N-1.124
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) All records of each licensee must be kept separate and apart from all other licensees regardless of whether operating out of the same office or owned by the same individual partnership or corporation.
(3) No person, firm or corporation possessing a valid agency license shall permit any other person, firm or corporation possessing any financial interest in such licensed business to exert or maintain operational control over such licensed business. Licensed agencies and branch offices shall not commence regulated activity until a properly licensed manager has been designated and employed.
Rulemaking Authority 493.6103 FS. Law Implemented 493.6106(2)(d), 493.6111, 493.6118(1)(b), (g), (n) ,(p), (q), 493.6121 FS. History-New 2-4-91, Amended 7-31096, Formerly 1C-3.124.