A. When the requirements for application, examination and payment of fees are completed to the satisfaction of the commissioner, the commissioner shall issue the license applied for to the applicant. Any person who has passed the state examination for broker or salesperson must become licensed within one year from the date of the examination. Failure to comply with this section will necessitate the submission to and passing of another examination.

Terms Used In Arizona Laws 32-2125.01

  • Broker: when used without modification, means a person who is licensed as a broker under this chapter or who is required to be licensed as a broker under this chapter. See Arizona Laws 32-2101
  • Commissioner: means the state real estate commissioner. See Arizona Laws 32-2101
  • Employing broker: means a person who is licensed or is required to be licensed as a:

    (a) Broker entity pursuant to section 32-2125, subsection A. See Arizona Laws 32-2101

  • License: means the whole or part of any agency permit, certificate, approval, registration, public report, charter or similar form of permission required by this chapter. See Arizona Laws 32-2101
  • Licensee: means a person to whom a license for the current license period has been granted under any provision of this chapter, and, for the purposes of section 32-2153, subsection A, includes original license applicants. See Arizona Laws 32-2101
  • Membership camping broker: means a person, other than a salesperson, who, for compensation:

    (a) Sells, purchases, lists, exchanges or leases membership camping contracts. See Arizona Laws 32-2101

  • Person: means any individual, corporation, partnership or company and any other form of multiple organization for carrying on business, foreign or domestic. See Arizona Laws 32-2101
  • Real estate: includes leasehold-interests and any estates in land as defined in Title 33, Chapter 2, articles 1 and 2, regardless of whether located in this state. See Arizona Laws 32-2101
  • Real estate broker: means a person, other than a salesperson, who, for another and for compensation:

    (a) Sells, exchanges, purchases, rents or leases real estate, businesses and business opportunities or timeshare interests. See Arizona Laws 32-2101

  • Real estate salesperson: means a natural person who acts on the person's own behalf or through and on behalf of a professional limited liability company or a professional corporation engaged by or on behalf of a licensed real estate broker, or by or on behalf of a limited liability company, partnership or corporation that is licensed as a real estate broker, to perform any act or participate in any transaction in a manner included in the definition of real estate broker subject to section 32-2155. See Arizona Laws 32-2101
  • Salesperson: when used without modification, means a natural person who acts on the person's own behalf or through and on behalf of a professional limited liability company or a professional corporation licensed under this chapter or any person required to be licensed as a salesperson under this chapter. See Arizona Laws 32-2101

B. Not more than one license shall be issued and outstanding to or in favor of a licensee at any one time, except that a person licensed as a real estate broker or real estate salesperson may engage in cemetery or membership camping sales activities without being separately licensed to engage in these activities. A real estate licensee may have only one employing broker in each of the following categories:

1. Cemetery.

2. Membership camping.

3. Real estate.

C. A designated or employing real estate broker may engage in cemetery or membership camping sales activities and may employ cemetery and membership camping salespersons and associate brokers without being separately licensed as a cemetery or membership camping broker or salesperson.

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