RCW 18.85.275
Designated broker or managing broker—Authority and duties.
(1) The designated broker or managing broker shall supervise the conduct of brokers and managing brokers for compliance with this chapter, chapter 18.235 RCW, and RCW 18.86.030.
(2) Listings, transactions, management agreements, and other contracts relating to providing brokerage services are property of the real estate firm. Brokers shall timely deliver to their appointed managing broker all funds and records required to be held or maintained by the real estate firm. A managing broker is responsible for such funds and records only after they are received from the broker. A managing broker shall timely deliver to the designated broker all funds and records required to be held or maintained by the real estate firm. The designated broker is responsible for such funds and records only after they are received from the managing broker or broker.
(3) The designated broker may delegate by written agreement the duties of safe handling of client funds, maintenance of trust accounts, and transaction and trust account records, along with supervision of brokers, to a managing broker licensed to the firm. The designated broker shall maintain a record of the firm's managing brokers and delegations to managing brokers.
(4) The designated broker or the designated broker's delegate has the authority to amend, modify, bind, create, rescind, terminate, or release real estate brokerage service contracts on behalf of the real estate firm. The designated broker has the authority to accept new or transferred licensees to represent the real estate firm.
(5) A broker who supervises or exercises right of control over other brokers in the performance of real estate brokerage services must be licensed as a managing broker.
(6) During the first two years of a broker's licensure, a managing broker must provide a heightened level of supervision as provided by rule of the director.
[ 2008 c 23 § 21.]
Structure Revised Code of Washington
Title 18 - Businesses and Professions
Chapter 18.85 - Real Estate Brokers and Managing Brokers.
18.85.021 - Real estate commission created—Qualifications, terms, appointment of members—Vacancies.
18.85.025 - Commission—Compensation and travel expenses—Frequency of meetings.
18.85.031 - Commission—Educational conferences—Examinations of applicants for licenses.
18.85.035 - Commission—Home inspector referrals—Procedures.
18.85.041 - Director—General powers and duties.
18.85.051 - Publication of chapter—Distribution.
18.85.053 - Controlling interest in a real estate business—Prohibited practices.
18.85.061 - License fees—Real estate commission account.
18.85.075 - Director and employees business interest prohibited.
18.85.081 - Licensure of town, city, or county employees conducting real estate transactions.
18.85.091 - Firm license—Requirements.
18.85.101 - Broker's license—Requirements—Renewal.
18.85.111 - Managing broker's license—Requirements—Renewal.
18.85.121 - Designated brokers—Registration—Endorsements.
18.85.131 - Out-of-state licensees—Requirements in lieu of licensing.
18.85.141 - Substitution of educational requirements—Rules.
18.85.151 - Exemptions from licensing.
18.85.171 - Applications—Conditions—Fees.
18.85.181 - Examinations—Sample questions—Scope—Moneys from sale.
18.85.191 - License fees—Expiration—Renewal—Identification cards—Background checks.
18.85.201 - Responsibility for conduct of subordinates.
18.85.211 - Licenses—Renewal—Continuing education.
18.85.221 - Licenses—Names—Restrictions as to use.
18.85.231 - Licenses—Office or records depositories required—Record maintenance and production.
18.85.241 - Licenses—Branch office.
18.85.255 - Licenses—Change of location.
18.85.265 - Inactive licenses.
18.85.275 - Designated broker or managing broker—Authority and duties.
18.85.285 - Transactions and recordkeeping—Trust accounts—Requirements.
18.85.291 - Brokers and managing brokers—Termination of affiliation with firm—Notice.
18.85.301 - Sharing commissions.
18.85.311 - Distribution of interest from brokers' trust accounts.
18.85.321 - Real estate education program account.
18.85.331 - License required—Prerequisite to suit for commission.
18.85.351 - License suspension—Noncompliance with support order—Reissuance.
18.85.361 - Disciplinary action—Grounds.
18.85.370 - Disciplinary action—Director's delegation of authority.
18.85.380 - Disciplinary action—Hearing—Conduct of.
18.85.390 - Disciplinary action—Order—Appeal.
18.85.401 - Appeal—Transcript—Cost.
18.85.411 - Violations—Penalty.
18.85.420 - Attorney general as legal advisor.
18.85.430 - Enforcement provisions.
18.85.440 - Uniform regulation of business and professions act.
18.85.461 - Washington real estate research account—Creation.
18.85.471 - Real estate research center—Purpose.