New York License Law
Under New York Real Property Law, which of the following is required for a brokerage firm to operate as a corporation?
AEvery officer of the corporation must be a licensed broker
BAt least one officer who is in charge of real estate activities must be a licensed broker✓ Correct
CThe corporation must obtain a separate license in each county where it operates
DAll shares must be held by licensed salespersons
Explanation
Under New York RPL Article 12-A, a corporation that engages in real estate brokerage must designate at least one officer who holds a real estate broker's license and is responsible for the real estate activities of the corporation. Not every officer is required to be licensed.
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