Requirements for Firm to Be Granted Broker's License

  1. Law
  2. Georgia Code
  3. Professions and Businesses
  4. Real Estate Brokers and Salespersons
  5. Requirements for Firm to Be Granted Broker's License

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No broker's license shall be granted to a firm unless:

  1. Said firm designates an individual licensed as a broker as its qualifying broker who shall be responsible for assuring that the firm and its affiliated licensees comply with the provisions of this chapter and its attendant rules and regulations; and
  2. Said firm authorizes its qualifying broker to bind the firm to any settlement of a contested case before the commission as defined in Chapter 13 of Title 50, the "Georgia Administrative Procedure Act," in which said firm may be a named respondent.

    Violations of this chapter or its rules and regulations by a firm licensed as a broker shall subject the license of the qualifying broker to sanction as authorized by this chapter. No broker's license shall be granted to a firm unless every person who acts as a licensee for such firm shall hold a real estate license.

(Code 1933, § 84-1414, enacted by Ga. L. 1973, p. 100, § 1; Ga. L. 1974, p. 382, § 1; Ga. L. 1980, p. 1398, § 5; Ga. L. 1982, p. 1001, §§ 6, 11; Ga. L. 1984, p. 22, § 43; Ga. L. 1985, p. 360, § 6; Ga. L. 1987, p. 252, § 3; Ga. L. 1988, p. 13, § 43; Ga. L. 1993, p. 123, § 52; Ga. L. 1995, p. 1216, § 4; Ga. L. 1996, p. 6, § 43; Ga. L. 2000, p. 1527, § 14; Ga. L. 2003, p. 370, § 9; Ga. L. 2004, p. 631, § 43; Ga. L. 2006, p. 792, § 7/SB 547.)

Law reviews.

- For article, "Real Estate Syndications As Securities in Georgia - A Review and Comments on the Recent Opinion of the Attorney General," see 11 Georgia St. B. J. 80 (1974). For article, "A Response: Real Estate Syndications as Securities in Georgia," see 11 Georgia St. B. J. 153 (1975).

JUDICIAL DECISIONS

Cited in Azar-Beard & Assocs. v. Wallace, 146 Ga. App. 671, 247 S.E.2d 154 (1978).

OPINIONS OF THE ATTORNEY GENERAL

Nonresident broker can serve as a qualifying broker for an out-of-state corporation or partnership setting up an office to do business in this state. 1977 Op. Att'y Gen. No. 77-1.

Licensed broker in corporation may delegate contract signing.

- If a real estate brokerage corporation has an officer who is a duly licensed broker, it is not necessary that such broker sign all sales contracts; this duty may be delegated to an agent of the firm. 1970 Op. Att'y Gen. No. U70-127.

RESEARCH REFERENCES

ALR.

- Right of corporation to engage in business, trade, or activity requiring license from public, 165 A.L.R. 1098.


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