Minnesota License Law
A Minnesota real estate broker wants to merge their company with another brokerage. What must happen to the existing licenses?
ALicenses automatically transfer to the new entity
BLicensees must apply for new licenses under the new brokerage entity✓ Correct
CThe merger requires no license changes if the broker name stays the same
DOnly the broker's license needs to be updated, not salespersons
Explanation
When brokerages merge in Minnesota, all licensees must obtain new licenses reflecting their association with the new entity. Licenses are issued to specific individuals associated with specific brokerages.
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