§ 33-28-109 — Responsible broker to establish a real estate company, maintain fixed principal office; change of address; branch offices; restrictions on associate brokers and salespersons

Wyoming § 33-28-109

• Jurisdiction: Wyoming
• Title 33: Professions and Occupations
• Ch. 28: REAL ESTATE BROKERS AND SALESPERSONS
• Art. 1: GENERAL LICENSING PROVISIONS

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(a) Each resident responsible broker shall lawfully
establish at least one (1) but no more than three (3) real
estate companies or sole proprietorships within Wyoming and
acquire a license for each real estate company. Each resident
responsible broker shall maintain a fixed principal office for
each company or sole proprietorship within this state. A
resident responsible broker operating as a sole proprietorship
shall not be required to acquire an additional company license.
The address of each office shall be designated on all licenses
associated with the office and no license issued under this act
shall authorize the licensee to transact real estate activity at
any other address except a licensed branch office. In case of
removal from a designated address, the responsible broker shall
apply to the commission before the removal designating the new
location of an office and paying the required fee, whereupon the
commission shall issue a license for the new location for the
unexpired period if the new location complies with the terms of
this act.
(b) A responsible broker may conduct business from a
branch office. A branch office shall use the same trade name or
business name as the licensed real estate company. A company
license shall be issued to the responsible broker for each
branch office the responsible broker maintains. Every branch
office shall be under the direction and supervision of the
responsible broker. A responsible broker requesting a branch
office license shall also, in addition to the branch office
application, submit a plan of supervision for the branch office
for approval by the commission.
(c) An associate broker or salesperson shall not be
associated or engaged under contract to any other responsible
broker than is designated upon the license issued to the
associate broker or salesperson. Upon termination of an
associate broker's or salesperson's association or contractual
relationship, his responsible broker shall immediately notify
the commission for cancellation of the associate broker's or
salesperson's license. Whenever a licensed associate broker or
salesperson desires to change his contractual relationship from
one (1) responsible broker to another, he shall notify the
commission promptly in writing of the facts attendant thereon
and pay the required fee. Upon application, the commission shall
issue a new license under the new responsible broker. No
associate broker or salesperson shall directly or indirectly
associate himself with a responsible broker until he has been
issued a license to do so with that responsible broker.
(d) No more than one (1) license to conduct real estate
activity shall be issued to any responsible broker, associate
broker or salesperson to be in effect at one (1) time except as
provided in subsection (a) of this section.