N.Y. Comp. Codes R. & Regs. tit. 19 § 175.20

Current through Register Vol. 46, No. 50, December 11, 2024

Section 175.20 - Branch offices

(a) Every branch office shall be owned, maintained and operated only by the licensed broker to whom the license for such office is issued. A branch office shall not be conducted, maintained and operated under an arrangement whereby a licensed salesman or employee of the broker shall pay, or be responsible for, any expense or obligation created or incurred in its conduct, maintenance or operation, or under any other arrangement, the purpose, intent or effect of which shall permit a licensed salesman or employee to carry on the business of real estate broker for his own benefit, directly, or indirectly, in whole or in part.

(b) Every branch office shall be under the direct supervision of the broker to whom the license is issued, or a representative broker of a corporation or partnership holding such license.

(c) No broker shall relocate his principal office or any branch office without prior approval of the department.

N.Y. Comp. Codes R. & Regs. Tit. 19 § 175.20

Amended New York State Register May 20, 2015/Volume XXXVII, Issue 20, eff.5/20/2015