Florida Administrative Code › 61 - DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION › 61J2 - Florida Real Estate Commission › Chapter 61J2-5 - CORPORATIONS › Section 61J2-5.018 - Vacancies of Office

Current through Reg. 50, No. 138; July 16, 2024
(1) A brokerage
				shall have at all times registered the name(s) of its officer(s) and
				director(s). In the event that a brokerage has but one active broker, and such
				broker dies, resigns, or is unexpectedly unable to remain in the position as
				the active broker, then, in such event, such vacancy shall be filled within 14
				calendar days during which no new brokerage business may be performed by the
				brokerage or a licensee registered with the brokerage until a new active or
				temporary broker is appointed and registered with the brokerage. It shall be
				the duty of the brokerage to immediately notify the Commission of such vacancy
				and of the steps taken to fill this vacancy.
(2) Failure to appoint another active or
				temporary broker within 14 calendar days will result in the automatic
				cancellation of the brokerage registration, and the licenses of all its broker
				associates and sales associates will become inactive.
(3) If a brokerage has more than one active
				broker and one such broker dies, resigns, or is unexpectedly unable to remain
				in the position as an active broker, neither the brokerage registration nor the
				licenses of any of its broker associates and sales associates are affected by
				this vacancy.
(4) If a brokerage
				has only one active broker and that broker dies, resigns or is unexpectedly
				unable to remain in the position as active broker, the vacancy may be filled
				with a temporary broker. A temporary broker may be registered with a brokerage
				for a period not to exceed 60 days without the need to comply with the
				Secretary of State registration requirements of Rule
				61J2-5.012, F.A.C. Such
				registration shall be on Form DBPR 17, "Registration for Temporary Qualifying
				Brocker, " which is incorporated by reference in subsection
				61-35.027(16),
				F.A.C. No later than 60 days after the registration of the temporary broker,
				such brokerage shall file proof that a new broker is properly registered with
				the Secretary of State on a form prescribed by the department.
(5) For purposes of qualifying for a
				temporary broker license, a broker's failure to complete post-licensure
				education is not an unexpected vacancy.
(6) If an active broker officer or director
				resigns or is unexpectedly unable to remain in the broker's corporate office,
				the broker may have a license reissued individually or with a partnership or
				another corporation. If an active broker officer or director is already
				licensed as active when the broker takes the corporate office, the broker shall
				surrender the current license within 7 calendar days, and apply for issuance or
				reissuance of a license in the corporate capacity. However, surrender of the
				broker's current license is not required if the broker holds multiple
				licenses.
Rulemaking Authority
					 475.05,
					 475.15 FS. Law Implemented
					 475.01(1)(a),
					 475.15,
					 475.31,
					 475.42
					 FS.
New 1-1-80, Formerly 21V-5.18, Amended 6-28-93, Formerly
					 21V-5.018, Amended 2-1-16, 12-22-20.