The New York herald., 1922-08-13


Commission issued to-day a statement in
the form of questions and answers Civ
Ing official information on various de-
tails of the new law requiring licenses
for all real estate brokers and statesmen
In the cities of the State and Nassau and
Westchester counties. which goes into
effect next autumn The statement.
which interprets many important points
Of the law is based on information OBJ
tanned by the Tax Commission from tho
Attorney General 1t follows.
Question 1. If a broker maintains
principal office in third class city (fee
500 and a branch Office in a first class
| city (fee of $3.50 Is he entitled under
paragraph of section 441-a on payment
OF $40 fee for his license in the third
class city to receive a supplemental
license to maintain a branch office in a
first class city without additional fee?
Answer. Under section 441-a of the
law 1t applies to all cities of the State
and to Westchester and Nassau counties
Under section 44-b a license for a
broker is s25 in first class cities, SIS in
second class cities and $40 In third class
cities. for statesmen the license is IS in
| first clas cities, SO in second class cities
| and SO in third class cities.
Under section AL a broker Is re-
qured to state in his application. among
other things. the kind of license desired,
his residence address and the place or
places where the business is to be con-
Quoted. Upon the allowance OF his APP
plication, a license is issued permitting
the broker to act as a real estate broker
'in this State" 1t is further provided
iui
where a real estate broker maintains
more than one place of business he may
obtain a supplemental license for each
branch Office free of charge. The broker
| in applying for his license and the Tax
Commission in allowing II shall de-
termine in good faith the principal place
Of business of the broker. II that be.
hsay, in Watertown, then the broker may
have his license for $40 and maintain
branch offices in Syracuse. a city OF the
second class. and in Rochester. city OF
the first class. OF course, In such an
extreme instance described, the Tax
Commission will be careful to determine
that the principal place is not really IN
| Rochester or Syracuse.
| Question .. II a salesman is licensed
to transact business in third class city,
may he effect n sale in any part of the
State. including a first class city?
Answer. A salesman. under section
AHA. subdivision 3. is not required 70
have a supplemental license, but under
subdivision of that section, once ne
is licensed. he Is entitled TO do business
anywhere In the State. His mode OF ap-
plication Is much the same as that re-
quired of brokers. Again II becomes
question of good faith. IL he Is actually
employed mostly In third class city.
he is entitled to third class city IL
cense and may do business incidentally
| in a first or second class city, or In
Westchester or Nassau counties
Question 2. In case nonresident
broker or salesman desires a license to
| transact business in this state, should
he be charged the highest fee provided
! for a broker or salesman. as the case
may be. in view OF the fact that his
| license will authorize him to transact
business in any part OF the State?
| Answer. Nonresident licenses arc
\ granted under section 442-h. and that
requires in part that a nonresident may
become a real estate. broker or sales
man sin any place In which the pro-
visions OF this article are applicable
In the case OF a nonresident broker or
salesman. inasmuch as his license per-
4 mits him to transact business In any
I
class city. and inasmuch as he Is not
attached to any locality by maintaining
an Office therein. II is believed that the
Tax Commission would be justified In
exacting the maximum fec.
| Question 4. A broker or salesman
whose principal office is located In a
village or town which is not In Nassau
county or westchester county, and who
therefore does not require license tc
transact business In his home village OF
thorized to transact business In a city
without license?
Answer. This question would be II.
lustrated by the typical instance OF q
broker or salesman actually residing and
doing business In Valatie, who desires
also to carry on business in the city OF
Albany II seems reading OF the
entire act requires that such a broker
the city OF Albany.
Question 3. Since the broker Is en-
titled to a supplemental license In a first
class city without extra charge. wha'
fee should a salesman pay VINO Is at
tached to the branch office In a firs'
class city?
Answer. The fifth question goes back
10 the second A salesman attached &c
the watertown office could have a
license for the third class fee and work
incidentally In Rochester or Syracuse
IL the salesman was assigned regularly
10 the Syracuse or Rochester office
then he would have to have license
for first or second class city.
Question 0. A Is trust company per-