(a) No person shall act as a real estate broker or real estate salesperson without a license issued by the commission or the Commissioner of Consumer Protection, unless exempt under this chapter. The Commissioner of Consumer Protection may enter into any contract for the purpose of administratively processing the renewal of licenses on behalf of the commission.

(b) The practice of or the offer to practice real estate brokerage business in this state by individual licensed real estate brokers or real estate salespersons as a corporation, limited liability company, partnership or limited liability partnership, a material part of the business of which includes real estate brokerage, is permitted, provided (1) the personnel of such corporation, limited liability company, partnership or limited liability partnership who engage in the real estate brokerage business as real estate brokers or real estate salespersons, and the real estate brokers whose ownership, control, membership or partnership interest is credited toward the requirements of subdivision (3) of this subsection, are licensed or exempt from licensure under this chapter, (2) the corporation, limited liability company, partnership or limited liability partnership has been issued a real estate broker license by the commission as provided in this section and has paid the license or renewal fee required for a real estate broker’s license as set forth in § 20-314, and (3) except for a publicly traded corporation (A) with respect to a corporation other than a nonstock corporation, one or more real estate brokers own or control fifty-one per cent or more of the total issued shares of the corporation, (B) with respect to a nonstock corporation, one or more real estate brokers constitute at least fifty-one per cent of the members of the nonstock corporation, (C) with respect to a limited liability company, one or more real estate brokers own or control at least fifty-one per cent of the interest in the limited liability company, as defined in § 34-243a, or (D) with respect to a partnership or limited liability partnership, one or more real estate brokers’ partnership interest, as defined in § 34-301, constitutes at least fifty-one per cent of the total partnership interest. No such corporation, limited liability company, partnership or limited liability partnership shall be relieved of responsibility for the conduct or acts of its agents, employees or officers by reason of its compliance with this section, nor shall any individual practicing real estate brokerage be relieved of responsibility for real estate services performed by reason of the individual’s employment or relationship with such corporation, limited liability company, partnership or limited liability partnership. The Real Estate Commission may refuse to authorize the issuance or renewal of a license if any facts exist that would entitle the commission to suspend or revoke an existing license.

(c) A corporation, limited liability company, partnership or limited liability partnership desiring a real estate broker license shall file with the commission or the commissioner an application on such forms and in such manner as prescribed by the Department of Consumer Protection. Each such corporation, limited liability company, partnership or limited liability partnership shall file with the commission a designation of at least one individual licensed or qualified to be licensed as a real estate broker in this state who shall be in charge of the real estate brokerage business of such corporation, limited liability company, partnership or limited liability partnership in this state. Such corporation, limited liability company, partnership or limited liability partnership shall notify the commission of any change in such designation not later than thirty days after such change becomes effective.

(d) The Real Estate Commission may impose a fine of not more than one thousand dollars on any corporation, limited liability company, partnership or limited liability partnership that engages in real estate business without a license required by this section. Any such imposition of a fine by the commission shall be a proposed final decision and submitted to the commissioner in accordance with the provisions of subsection (b) of § 21a-7.

(e) (1) (A) Except as provided in subdivision (2) of this subsection, each team shall register, on a form and in a manner prescribed by the commissioner, with the Department of Consumer Protection. Each initial registration shall be valid for a period of one year and be subject to renewal for additional one-year periods. Each team shall pay to the department an initial registration fee of five hundred sixty-five dollars when the team files its initial registration, and a registration renewal fee of three hundred seventy-five dollars when the team files each registration renewal, pursuant to this subparagraph. Each team shall include in each registration form that the team files with the department pursuant to this subparagraph:

(i) The team’s team name, which shall:

(I) Include the full name of at least one licensed real estate broker or real estate salesperson who is part of the team or be immediately followed by “at/of [full name of the sponsoring real estate broker]”;

(II) Not include the name of any individual who is not a licensed real estate broker or real estate salesperson; and

(III) With the exception of “team”, not include any abbreviation, term or phrase, including, but not limited to, “associates”, “company”, “corporation”, “group”, “LLC”, “real estate” or “realty”, that implies that the team is a business entity;

(ii) The name of, and contact information for, the team’s sponsoring real estate broker, who shall serve as the team’s primary contact, ensure that the team complies with all applicable laws and regulations concerning team advertisements and ensure that the team timely files accurate registration forms and registration updates with the department pursuant to this subdivision; and

(iii) The name and contact information for each real estate broker or real estate salesperson who is part of the team.

(B) A team shall send notice to the department disclosing any change to the information contained in the team’s registration form. The team shall send such notice to the department, on a form and in a manner prescribed by the commissioner, not later than twelve days after the date of such change.

(C) Each team shall comply with all advertising requirements and standards that apply to real estate brokers, and shall include the name of the team’s sponsoring real estate broker at a prominent location in all of the team’s advertisements.

(2) The commissioner may, in the commissioner’s discretion, engage the services of such third parties that the commissioner deems necessary to assist the commissioner in implementing the provisions of subdivision (1) of this subsection, provided no expenditure of state funds shall be made to cover the cost of hiring a consultant to make programmatic changes to the licensing system.