Louisiana License Law
When a Louisiana real estate brokerage closes or the broker's license is revoked, the LREC should be notified so that:
AThe LREC can automatically transfer all listings to competing brokers
BSalesperson licensees can be properly transferred to new employing brokers and client interests are protected✓ Correct
CAll pending transactions are automatically cancelled
DThe brokerage's trust account is transferred to the LREC
Explanation
When a brokerage closes, the LREC must be notified so that salesperson licensees can be transferred to new employing brokers and arrangements can be made to protect clients with pending transactions.
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