Michigan License Law
In Michigan, which entity must be licensed as a broker for a real estate company operating as a corporation?
AThe corporation itself requires no broker license
BThe designated managing broker must hold a broker license and be responsible for the company's licensees✓ Correct
CEvery employee of the corporation must hold a broker license
DOnly the majority shareholder
Explanation
In Michigan, when a real estate business operates as a corporation, partnership, or LLC, a designated managing broker must hold a broker license and be responsible for supervising the company's licensed activities. The entity itself may need to register with LARA.
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