Indiana § 25-34.1-4-6 Death of sole proprietor or partner; carrying out business contracted
before death; brokers associated with broker company

Indiana Statutes

§ 25-34.1-4-6 — Death of sole proprietor or partner; carrying out business contracted before death; brokers associated with broker company

Indiana § 25-34.1-4-6

Title 25PROFESSIONS AND OCCUPATIONS

Art. 34.1REAL ESTATE BROKERS AND

Ch. 4Principal Brokers

This text of Indiana § 25-34.1-4-6 (Death of sole proprietor or partner; carrying out business contracted before death; brokers associated with broker company) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 25-34.1-4-6 (2026).

Text

(a)In the event of:

(1)the death of the sole proprietor of a sole proprietorship broker company; or

(2)the termination of a partnership broker company by the death of a partner; a broker formerly associated with the broker company may continue to carry out business contracted for before the death of the sole proprietor or termination of the broker company for a maximum period of ninety

(90)days after the death or termination. During that period, the broker shall maintain a trust account as provided in section 5 of this chapter. However, until associating with another broker company, the broker may not undertake any new business.

(b)Upon associating with a new broker company, the broker may conduct on behalf of the deceased proprietor or terminated managing broker only that business wh

Free access — add to your briefcase to read the full text and ask questions with AI

(a) In the event of:
(1) the death of the sole proprietor of a sole proprietorship broker
company; or
(2) the termination of a partnership broker company by the death
of a partner;
a broker formerly associated with the broker company may continue to
carry out business contracted for before the death of the sole proprietor
or termination of the broker company for a maximum period of ninety
(90) days after the death or termination. During that period, the broker
shall maintain a trust account as provided in section 5 of this chapter.
However, until associating with another broker company, the broker
may not undertake any new business.
(b) Upon associating with a new broker company, the broker may
conduct on behalf of the deceased proprietor or terminated managing
broker only that business which is necessary to complete obligations
assumed while associated with the broker company. All other acts
performed by the broker shall be performed in association with the new
managing broker.
(c) Each broker formerly associated with the deceased or terminated
managing broker becomes, upon the death or termination of the
managing broker, a managing broker by law until the broker elects to
act as a broker for another broker company.
(d) This section applies only to matters of licensing and
responsibility under this article and does not affect the transfer of the
deceased broker's property interests as provided by IC 29 and other
laws of succession.
As added by Acts 1979, P.L.248, SEC.1. Amended by
P.L.127-2012, SEC.25; P.L.116-2015, SEC.11.