Missouri License Law
A Missouri broker who is closing their brokerage must:
ASimply stop taking listings
BNotify MREC, properly handle all pending transactions, transfer or close trust accounts, and ensure licensees affiliate with new brokers✓ Correct
COnly notify their local association
DFile for bankruptcy
Explanation
Missouri brokers closing their business must properly handle all pending client matters, account for and disburse trust funds, notify MREC, and help affiliated licensees transition to new brokers. Proper wind-down protects clients and meets regulatory obligations.
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