§ 37:1437.2 — Corporations; limited liability companies; partnerships; broker licenses

Louisiana § 37:1437.2

• Jurisdiction: Louisiana
• Title 37: Professions and Occupations

Text

§1437.2. Corporations; limited liability companies; partnerships; broker licenses
A. Any corporation, limited liability company, or partnership formed under the laws
of this state or any foreign corporation, limited liability company, or partnership that has
been granted a certificate of authority to do business in this state may be granted a real estate
broker's license by the commission upon application and compliance with the requirements
of this Chapter.
B. Every application for a real estate broker license issued to a corporation, limited
liability company, or partnership shall be submitted by a licensed individual real estate
broker who has been chosen by the corporation, limited liability company, or partnership as
its qualifying broker.
(1) An individual real estate broker may serve as a qualifying broker for more than
one corporation, limited liability company, or partnership.
(2) A corporation, limited liability company, or partnership may designate a new
qualifying broker at any time, as provided in R.S. 37:1441(C).
C. A corporation, limited liability company, or partnership shall notify the
commission within five calendar days of its dissolution, accompanied by notice of the
termination of the broker license, as provided in R.S. 37:1441, for each sponsored licensee,
at which time the commission shall cancel the real estate broker license of the corporation,
limited liability company, or partnership, thereby prohibiting such entity from performing
any act for which a real estate broker license is required.
D. A corporation, limited liability company, or partnership shall notify the
commission within five calendar days following the effective date of a merger or
consolidation with another corporation, limited liability company, or partnership.
F.-I. Repealed by Acts 1999, No. 452, §3.

Legislative History

Added by Acts 1983, No. 380, §1. Acts 1989, No. 655, §1, eff. Jan. 1, 1990; Acts 1995, No. 1207, §1; Acts 1997, No. 845, §1; Acts 1999, No. 452, §3; Acts 2016, No. 533, §1.