Sec. 3. (a) Except as provided in subsection (b), each individual who is a managing broker shall be a resident of Indiana.

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Terms Used In Indiana Code 25-34.1-4-3

  • 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
  • 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
     (b) A nonresident may be a managing broker if none of the licensees associated with the managing broker’s broker company are residents of Indiana.

As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.128-1994, SEC.5; P.L.64-2004, SEC.21; P.L.127-2012, SEC.22; P.L.116-2015, SEC.7.

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