N.Y. Real Property Law 441-D – Salesperson's license suspended by revocation or suspension of employer's license
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§ 441-d. Salesperson's license suspended by revocation or suspension of employer's license. The revocation or suspension of a broker's license shall operate to suspend the license of each real estate salesperson associated with such broker, pending a change of association of the salesperson or the expiration of the period of suspension of the broker's license. Such suspension of the salesperson's license shall be deemed to be a discontinuance of association with the broker being suspended.
Terms Used In N.Y. Real Property Law 441-D
- Real estate salesperson: means a person associated with a licensed real estate broker to list for sale, sell or offer for sale, at auction or otherwise, to buy or offer to buy or to negotiate the purchase or sale or exchange of real estate, or to negotiate a loan on real estate other than a mortgage loan as defined in § 590 of the banking law, or to lease or rent or offer to lease, rent or place for rent any real estate, or collects or offers or attempts to collect rent for the use of real estate for or in behalf of such real estate broker, or who, notwithstanding any other provision of law, performs any of the above stated functions with respect to the resale of a condominium property originally sold pursuant to the provisions of the general business law governing real estate syndication offerings. See N.Y. Real Property Law 440