Colorado § 12-10-211 Change of license status - inactive - cancellation

Colorado Statutes

§ 12-10-211 — Change of license status - inactive - cancellation

Colorado·Title 12 Professions·Art. Real Estate

(1)Immediate notice shall be given in a manner acceptable to the commission by each licensee of any change of business location or employment. A change of business address or employment without notification to the commission shall automatically inactivate the licensee's license.

(2)A broker who transfers to the address of another broker or a broker applicant who desires to be employed by another broker shall inform the commission if the broker is to be in the employ of the other broker. The employing broker shall have the control and custody of the employed broker's license. The employed broker may not act on behalf of the broker or as broker for a partnership, limited liability company, or corporation during the term of the employment; but this shall not affect the employed b

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(1) Immediate
notice shall be given in a manner acceptable to the commission by each licensee of
any change of business location or employment. A change of business address or
employment without notification to the commission shall automatically inactivate
the licensee's license.

(2) A broker who transfers to the address of another broker or a broker
applicant who desires to be employed by another broker shall inform the
commission if the broker is to be in the employ of the other broker. The employing
broker shall have the control and custody of the employed broker's license. The
employed broker may not act on behalf of the broker or as broker for a partnership,
limited liability company, or corporation during the term of the employment; but
this shall not affect the employed broker's right to transfer to another employing
broker or to a location where the employed broker may conduct business as an
independent broker or as a broker acting for a partnership, limited liability
company, or corporation.

(3) In the event that any licensee is discharged by or terminates employment
with a broker, it shall be the joint duty of both such parties to immediately notify the
commission. Either party may furnish the notice in a manner acceptable to the
commission. The party giving notice shall notify the other party in person or in
writing of the termination of employment.

(4) It is unlawful for any such licensee to perform any of the acts authorized
under the license in pursuance of this part 2, either directly or indirectly, on or after
the date that employment has been terminated. When any real estate broker whose
employment has been terminated is employed by another real estate broker, the
commission shall, upon proper notification, enter the change of employment in the
records of the commission. Not more than one employer or place of employment
shall be shown for any real estate broker for the same period of time.

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