Sec. 2. Except as provided in IC 23-1.5, a partnership broker, corporate broker, or limited liability company broker:
(1) may act only as a broker company; and
(2) shall designate to the commission a managing broker who meets the requirements for managing brokers set forth in IC 25-34.1-3-4.1 to be primarily responsible to the commission for its actions.
As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.128-1994, SEC.4; P.L.229-1995, SEC.7; P.L.127-2012, SEC.21; P.L.116-2015, SEC.6.
Structure Indiana Code
Title 25. Professions and Occupations
Article 34.1. Real Estate Brokers and Salespersons
25-34.1-4-0.5. Prerequisites to Becoming a Managing Broker
25-34.1-4-0.6. Real Estate Schools
25-34.1-4-1. Responsibilities of Broker Company
25-34.1-4-2. Partnership, Corporation, or Limited Liability Company as Broker Company
25-34.1-4-3.1. Individuals Who Became Managing Brokers on July 1, 2014