Kentucky Statutes 324.425 – Closing existing business of deceased or incapacitated principal broker
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In case of death or other incapacity of a principal broker having a licensed sales associate or sales associates affiliated at the time of death or other incapacity, the commission reserves the right in its discretion, based upon the merits of each case, to permit one (1) of the sales associates to complete and close the then existing business of the deceased or incapacitated broker for a temporary period not to exceed six (6) months.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 488, sec. 33, effective July 14, 2000. — Created
1982 Ky. Acts ch. 196, sec. 1, effective July 15, 1982.
Effective: July 14, 2000
Terms Used In Kentucky Statutes 324.425
- Broker: means any person who is licensed under KRS §. See Kentucky Statutes 324.010
- Commission: means the Kentucky Real Estate Commission. See Kentucky Statutes 324.010
- Principal broker: means a person licensed as a broker under KRS §. See Kentucky Statutes 324.010
- Sales associate: means any person licensed in accordance with KRS §. See Kentucky Statutes 324.010
History: Amended 2000 Ky. Acts ch. 488, sec. 33, effective July 14, 2000. — Created
1982 Ky. Acts ch. 196, sec. 1, effective July 15, 1982.