Maryland License Law (alternative)
In Maryland, a real estate brokerage firm that closes must ensure:
AAll pending listings automatically transfer to another firm
BClient escrow funds are properly disbursed or transferred, and clients are notified and can seek new representation✓ Correct
CMREC takes over operations until an auction of assets
DAll affiliated licensees automatically receive inactive status
Explanation
When a Maryland brokerage closes, proper wind-down procedures include disbursing escrow funds per legal requirements, notifying clients, and properly transferring or releasing affiliated licensees.
Related Maryland Maryland License Law (alternative) Questions
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