Indiana License Law
A managing broker in Indiana who retires or closes their brokerage must:
ATransfer all active listings to any willing broker
BNotify all affiliated licensees, assist with proper license transfer to a new managing broker, and properly close trust accounts✓ Correct
CFile for license revocation
DOnly notify IPLA within 90 days
Explanation
When a managing broker retires or closes, they have obligations to properly wind down: notifying affiliated brokers so they can affiliate with a new managing broker, properly handling client funds, and notifying IPLA.
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