New York License Law
When a New York broker closes their office, they must:
ASimply stop advertising
BNotify the DOS and properly close out all pending transactions and escrow accounts✓ Correct
CTransfer all listings to the nearest competing broker
DOnly notify current clients
Explanation
When closing a brokerage, a New York broker must notify the DOS, properly handle all pending transactions, return client deposits, and ensure all escrow accounts are properly closed and accounted for.
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