37-51-309. Broker owner -- broker associate -- salesperson -- notice to department of change of association. (1) A salesperson may not be associated with or under contract to more than one licensed broker owner, nor may he perform services for a broker other than the one designated on the license issued to the salesperson.
(2) When a licensed salesperson desires to change his association or contractual relationship from one licensed broker to another, he shall notify the department promptly in writing of these facts, pay the required fee, and return his license and pocket card, and a new license and pocket card shall be issued. No salesperson shall directly or indirectly work for or with a broker owner until he has been issued a license to work for or with that broker owner. On termination of a salesperson's association or contractual relationship, he shall surrender his license and pocket card to his broker owner who shall return them to the department for cancellation.
(3) Only one license shall be issued to a salesperson to be in effect at one time.
(4) A broker associate may not be associated with more than one broker owner.
History: En. Sec. 12, Ch. 250, L. 1963; amd. Sec. 186, Ch. 350, L. 1974; R.C.M. 1947, 66-1935(2), (3); amd. Sec. 5, Ch. 306, L. 1979; amd. Sec. 6, Ch. 565, L. 1995.