ADRE LAW BOOK 2025

b. If the entity is a corporation or limited liability company, submits a resolution appointing the new broker to act on its behalf; or c. If the entity is a partnership, submits an amendment to the partnership agree ment naming the new broker to act on its behalf. L. Non-resident employing broker. 1. An employing broker that holds a non-resident license and maintains a principal office outside this state shall: a. Maintain a trust account or licensed escrow account situated in Arizona for mon ies received from Arizona transactions; b. Maintain, in Arizona, copies of all documents pertaining to any Arizona transac tions handled by the broker; c. Provide a written statement to the Department identifying the name, address, and telephone number of the person residing in Arizona, such as a statutory agent or attorney, who has possession of the records; and d. Identify the physical location of the records. 2. An employing broker that holds a non-resident license and employs a licensed salesper son or broker within the state shall: a. Establish an office in Arizona and appoint a branch manager; and b. Provide a statement describing how the licensed employee shall be supervised. 3. An employing broker who holds a non-resident license shall notify the Department with in 10 days of any change to any information required under this Section. R4-28-303. License Renewal; Reinstatement; Changes of Personal Information, License, or Li cense Status; Professional Corporation or Professional Limited Liability Company Licensure; Administrative Severance A. Renewal. 1. If a salesperson or broker makes a timely and sufficient application for license renewal or a new license with reference to any activity of a continuing nature, the existing license does not expire until the application has been finally determined by the Department, and, in case the application is denied or the terms of the new license limited, until the last day for seeking review of the Commissioner’s order or a later date fixed by order of the reviewing court. 2. Any salesperson or broker applying for a license renewal shall submit the following in formation on the Application for License Renewal form: a. Any change or correction to the applicant’s licensing information; b. Whether the renewal application is late; c. If the renewal is for an active license and is filed in paper format, the Department shall require the application to include the date and signature of the designated broker, authorized branch office manager, or authorized designee under A.R.S. § 32-2127(D). If signed by a branch manager or designee, the branch manager or designee shall attach a copy of the authorization or designation; d. The signature of the applicant, attesting to the truthfulness of the application information; e. A completed certification questionnaire, providing details and supporting doc uments for any affirmative response not previously disclosed in writing to the De

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