ADRE LAW BOOK 2025

the employee’s license within 10 days of the severance; 11. If opening or closing a broker’s trust account, written notice within 10 days of the open ing or closing that provides the name of the account, the account number, and the name and address of the bank where the account is located. If relocating or changing the name of a trust account, the designated broker shall include the information for the previous and new accounts; 12. If appointing a temporary broker, submit the information specified in R4-28-305 and in accordance with provisions of A.R.S. §§ 32-2127 or 32-2133, as applicable; or 13. If an employing broker is changing designated brokers, the information and documen tation provided in R4-28-302(K). F. In addition to the applicant’s name, signature, license number, the name and address of the em ploying broker’s office where the employee will work, and the change fee, a salesperson or broker shall submit the following information to be licensed as a professional corporation or professional limited liability company, to add or remove members of a licensed professional corporation or pro fessional limited liability company, or to change the name of a licensed professional corporation or professional limited liability company: 1. Professional corporation. a. The name of the professional corporation that includes the full or last name of each officer, director, and shareholder of the professional corporation as it appears in the Articles of Incorporation; b. The name and business address of each officer, director, and shareholder in the corporation and a written statement that each holds a current and active real estate license; c. A copy of the Articles of Incorporation, as amended, stamped “Received and Filed” by the Arizona Corporation Commission; i. The Articles of Incorporation shall state that the corporation’s sole pur pose is to provide professional real estate, cemetery, or membership camp ing services, or real estate, cemetery, and membership camping services. ii. If more than one year has elapsed between the date the Articles of Incor poration were stamped “Filed” by the Arizona Corporation Commission and the date of the application for a license as a professional corporation, the Department shall require the salesperson or associate broker to submit a Certificate of Good Standing from the Arizona Corporation Commission; and d. Evidence that membership in the professional corporation is limited to the des ignated broker and does not include any other person if the applicant for licensure as a professional corporation is licensed as a designated broker; 2. Professional limited liability company. a. The name of the professional limited liability company which includes the full or last name of each member of the professional limited liability company as it appears in the Articles of Organization; b. The name and address of each member and manager in the limited liability com pany and a written statement that each holds a current and active real estate license; c. A copy of the Articles of Organization, as amended, stamped “Received and Filed” by the Arizona Corporation Commission:

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