The revocation of a broker‘s license shall automatically suspend every real estate service provider‘s license granted to any individual by virtue of employment either directly or indirectly by the broker whose license has been revoked, pending a change of employing broker or brokerage organization and the issuance of a new license. Such new license shall be issued without charge, if granted during the same licensure period in which the licensee‘s original license was granted.

35 Del. Laws, c. 63, § ?8; Code 1935, § ?5480; 24 Del. C. 1953, § ?2915; 67 Del. Laws, c. 121, § ?23; 70 Del. Laws, c. 186, § ?1; 71 Del. Laws, c. 103, § ?4; 78 Del. Laws, c. 166, § ?1;

Terms Used In Delaware Code Title 24 Sec. 2917

  • Broker: means any individual who holds a broker license from the Commission and who for a compensation or valuable consideration, is self-employed or is employed directly or indirectly by a brokerage organization to sell or offer to sell, or to buy or offer to buy, or to negotiate the purchase, sale, or exchange of real estate, or to lease or rent or offer for rent any real estate, or to negotiate leases or rental agreements thereof or of the improvements thereon for others. See Delaware Code Title 24 Sec. 2902
  • Brokerage organization: means that individual or business entity which is not licensed but is acting as a broker under § 2901(c) of this title and is the trade name under which the broker operates. See Delaware Code Title 24 Sec. 2902
  • Licensee: means an individual licensed under this chapter as a broker, associate broker or salesperson without implying what legal relationship they have with a customer or client. See Delaware Code Title 24 Sec. 2902
  • Real estate service provider: means a licensee who is providing real estate services. See Delaware Code Title 24 Sec. 2902