Rhode Island General Laws 5-38.5-14. Responsibility of licensee for acts of agents
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If a licensee is a firm or corporation, it is sufficient cause for the suspension or revocation of a license that any officer, director, or trustee of the firm or corporation or any member, in the case of a partnership, has been found by the department of business regulation guilty of any act or omission that would be cause for refusing, suspending, or revoking a license to that party as an individual. Each licensee shall be responsible for the acts of any salesperson or any person acting as the agent for that licensee, and for the acts of any salesperson, estimator, or other employee acting as the agent for that licensee.
History of Section.
P.L. 2015, ch. 146, § 1.
Terms Used In Rhode Island General Laws 5-38.5-14
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the Rhode Island department of business regulation and the official actions, duties, and responsibilities of its director, deputy directors, employees, or authorized designees. See Rhode Island General Laws 5-38.5-3
- Director: means the director of the Rhode Island department of business regulation, department officials, or authorized individuals designated by the director to take official actions. See Rhode Island General Laws 5-38.5-3
- 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.
- Person: means individuals, associations, partnerships, firms, and corporations, and the officers, directors, and employees of a corporation. See Rhode Island General Laws 5-38.5-3
- Trustee: A person or institution holding and administering property in trust.