Or. Admin. Code § 863-014-0090

Current through Register Vol. 63, No. 11, November 1, 2024

Section 863-014-0090 - Authorization to Temporarily Supervise

(1) As used in ORS 696.022 and this rule, the following definitions apply:

(a) "Sole principal real estate broker" means a principal real estate broker who conducts professional real estate activity not in conjunction with other principal real estate brokers; and

(b) "Supervise" means to conduct the sole principal real estate broker's professional real estate activity, including supervising the professional real estate activity of any real estate brokers and property managers associated with the sole principal real estate broker. It does not include conducting professional real estate activity in conjunction with any other principal real estate broker.

(2) A real estate broker who is associated with a sole principal real estate broker may temporarily supervise the sole principal broker's professional real estate activity only if:

(a) The sole principal broker provides written authorization as required by this rule; and

(b) The real estate broker accepts the supervisory responsibility in writing.

(3) The written authorization must contain the following information:

(a) Authorization by the sole principal real estate broker, including the effective date and termination date of such authorization, which may not exceed 90 days;

(b) An affirmation by the real estate broker acknowledging that the real estate broker:

(A) Has acquired at least three years of active experience as a real estate broker;

(B) Accepts the supervisory responsibility;

(C) Is bound by and subject to all the statutory and rule requirements of a principal real estate broker during the period of authorization.

(c) An affirmation by both the sole principal real estate broker and the real estate broker acknowledging that they are jointly responsible for the real estate broker's supervision of the professional real estate activity during the dates of the authorization.

(4) The sole principal real estate broker may end the authorization before the termination date by filing an amended authorization before the termination date.

(5) The written authorization required by this rule must be received by the Agency before the effective date of such authorization on an Agency-approved form. The commissioner may allow a later filing for good cause shown.

(6) The Agency will maintain the written authorization as an Agency record.

Or. Admin. Code § 863-014-0090

REA 1-2009, f. 12-15-09, cert. ef. 1-1-10

Stat. Auth.: ORS 696.385 & 183.335

Stats. Implemented: 2009 OL Ch. 324, Sec. 2