Rhode Island General Laws 5-20.5-7. Fixed office required – Display of license – Notice of change of address and employment
Each resident licensed real estate broker must maintain a fixed office within this state. All business records relating to real estate transactions and to the management of that office must be kept on the premises of the fixed office location. The original license as real estate broker and the original license of each real estate salesperson in the employ of or under contract with that real estate broker shall be prominently displayed in the office. A real estate broker shall communicate any change of fixed office location to the director, and a real estate salesperson shall communicate any change of employment or broker affiliation to the director, immediately upon or prior to such change.
History of Section.
P.L. 1973, ch. 215, § 2; P.L. 2011, ch. 102, § 1; P.L. 2011, ch. 113, § 1.
Terms Used In Rhode Island General Laws 5-20.5-7
- Contract: A legal written agreement that becomes binding when signed.
- Director: means the director of business regulation for the state. See Rhode Island General Laws 5-20.5-1
- Real estate: as used in this chapter , includes leaseholds as well as any and every interest or estate in land, whether corporeal or incorporeal, freehold or non-freehold, and whether the property is situated in this state or elsewhere. See Rhode Island General Laws 5-20.5-1
- Real estate salesperson: means and includes any person employed or engaged as an independent contractor by or on behalf of a licensed real estate broker to do or deal in any activity as included or comprehended by the definitions of a real estate broker in subsection (5) of this section, for compensation or otherwise. See Rhode Island General Laws 5-20.5-1