Sec. 2509.
(1) A principal may be issued more than 1 associate real estate broker's license.
(2) A nonprincipal shall not be issued more than 1 associate real estate broker's license as a nonprincipal, but may hold 1 or more associate real estate broker's licenses as a principal.
(3) As used in this section and section 2508:
(a) “Nonprincipal” means an individual who is licensed as an associate real estate broker, but has not been designated as a principal under section 2505(1).
(b) “Principal” means an individual designated as a principal under section 2505(1).
History: 1980, Act 299, Imd. Eff. Oct. 21, 1980 ;-- Am. 1988, Act 16, Imd. Eff. Feb. 18, 1988
Popular Name: Act 299
Last modified: October 10, 2016