Okla. Admin. Code § 605:10-9-3.2
Current through Vol. 42, No. 3, October 15, 2024
Section 605:10-9-3.2 - [Effective 11/1/2024] Team registration and fees(a) The broker shall register each team within the brokerage with the Commission on a form prescribed by the Commission. The fee for each team name registration shall be $100.00.(b) Each team name must be approved by the broker and must be unique and not registered to another real estate team within the State of Oklahoma, and must not be identical to any association, corporation or partnership licensed as a real estate entity by the Commission.(c) The broker shall not allow any team name identical to an associate's corporation or limited liability company formed for the purpose of receiving compensation.(d) Each team name must be registered to the Commission prior to the performance of any licensable activities by the team.(e) It shall be prohibited for a broker to register any team name that is not being used by a team within their brokerage.(f) The broker shall maintain and keep current a list of teams and their respective members, in writing, within the brokerage. Copies of this list shall be made available immediately to the Commission upon request.(g) The broker shall notify the Commission, in writing, of all deleted or unused team names.(h) Team members must maintain an active Oklahoma real estate license.(i) All registered team names shall contain the word "team" or "group".(j) The Commission reserves the right to deny a team name submission if the submissions is too similar to an existing team name, trade name or licensed real estate brokerage such that approval will likely confuse the public.Okla. Admin. Code § 605:10-9-3.2
Adopted by Oklahoma Register, Volume 35, Issue 24, September 4, 2018, eff. 9/14/2018Amended by Oklahoma Register, Volume 37, Issue 24, September 1, 2020, eff. 11/1/2020Amended by Oklahoma Register, Volume 40, Issue 23, August 15, 2023, eff. 11/1/2023Amended by Oklahoma Register, Volume 41, Issue 22, August 1, 2024, eff. 11/1/2024