Kentucky Statutes 324.312 – Commission’s right to return of associate’s license — Sanction for failure to return
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(1) A principal broker shall return an associate’s license to the commission immediately:
(a) Upon the written termination of the association between the broker and the associate; or
(b) At any time upon the commission’s request.
(2) If a principal broker fails to return a license to the commission as required by subsection (1) of this section within five (5) business days, the commission shall consider the license as released, and the principal broker shall be in violation of KRS § 324.160(4)(u).
Effective: June 25, 2009
History: Amended 2009 Ky. Acts ch. 58, sec. 11, effective June 25, 2009. — Amended
2000 Ky. Acts ch. 488, sec. 28, effective July 14, 2000. — Created 1998 Ky. Acts ch.
313, sec. 1, effective July 15, 1998.
(a) Upon the written termination of the association between the broker and the associate; or
Terms Used In Kentucky Statutes 324.312
- Broker: means any person who is licensed under KRS §. See Kentucky Statutes 324.010
- Commission: means the Kentucky Real Estate Commission. See Kentucky Statutes 324.010
- Principal broker: means a person licensed as a broker under KRS §. See Kentucky Statutes 324.010
(b) At any time upon the commission’s request.
(2) If a principal broker fails to return a license to the commission as required by subsection (1) of this section within five (5) business days, the commission shall consider the license as released, and the principal broker shall be in violation of KRS § 324.160(4)(u).
Effective: June 25, 2009
History: Amended 2009 Ky. Acts ch. 58, sec. 11, effective June 25, 2009. — Amended
2000 Ky. Acts ch. 488, sec. 28, effective July 14, 2000. — Created 1998 Ky. Acts ch.
313, sec. 1, effective July 15, 1998.