Florida Regulations 61J2-5.016: License Status of Active Officers and Directors
Current as of: 2024 | Check for updates
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Officers and directors who expect to be active must qualify and become licensed in the same manner and procedure as any other applicant for active license. No registration shall be issued to the corporation or partnership unless every broker licensed with the corporation or partnership is registered as an officer, director or partner of the corporation or partnership. No sales associate or broker associate may be registered as an officer, director of a brokerage corporation or general partner of a brokerage partnership.
Rulemaking Authority 475.05 FS. Law Implemented 475.15, 475.161 FS. History-New 1-1-80, Amended 7-15-84, 6-9-85, Formerly 21V-5.16, Amended 6-28-93, Formerly 21V-5.016, Amended 4-15-04.
Rulemaking Authority 475.05 FS. Law Implemented 475.15, 475.161 FS. History-New 1-1-80, Amended 7-15-84, 6-9-85, Formerly 21V-5.16, Amended 6-28-93, Formerly 21V-5.016, Amended 4-15-04.
Terms Used In Florida Regulations 61J2-5.016
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.