§ 25-34.1-4-0.5 Prerequisites to becoming a managing broker
§ 25-34.1-4-0.6 Real estate schools
§ 25-34.1-4-1 Responsibilities of broker company
§ 25-34.1-4-2 Partnership, corporation, or limited liability company as broker company
§ 25-34.1-4-3 Residency requirements of managing brokers; certain nonresidents may be managing brokers
§ 25-34.1-4-3.1 Individuals who became managing brokers on July 1, 2014
§ 25-34.1-4-4 Independent contractor relationship
§ 25-34.1-4-5 Trust accounts
§ 25-34.1-4-6 Death of sole proprietor or partner; carrying out business contracted before death; brokers associated with broker company
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Terms Used In Indiana Code > Title 25 > Article 34.1 > Chapter 4 - Principal Brokers

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Broker: means a person who:

    Indiana Code 25-34.1-1-2

  • Broker company: means a licensee that is a business engaged in the activities described in Indiana Code 25-34.1-1-2
  • Commission: means the Indiana real estate commission. See Indiana Code 25-34.1-1-2
  • Contract: A legal written agreement that becomes binding when signed.
  • License: means a broker license issued under this article and which is not expired, suspended, or revoked. See Indiana Code 25-34.1-1-2
  • Managing broker: refers to an individual broker whom the commission holds responsible for the actions of licensees who are affiliated with the broker company. See Indiana Code 25-34.1-1-2
  • 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.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Real estate: means any right, title, or interest in real property. See Indiana Code 25-34.1-1-2
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.