Oregon License Law
Oregon's licensing law requires that a real estate firm (if a corporation, LLC, or partnership) must register its business entity with OREA. The entity must be:
AManaged by a licensed attorney
BManaged by a licensed principal broker✓ Correct
CLicensed as a separate corporate broker
DPublicly traded on the Oregon Stock Exchange
Explanation
A business entity that conducts real estate brokerage in Oregon must be registered with OREA and managed by a licensed principal broker. The principal broker is responsible for the firm's compliance with Oregon real estate law.
Related Oregon Oregon License Law Questions
- An Oregon broker who has received their license within the past year wants to become a principal broker. What additional requirement applies to them?
- In Oregon, which of the following would be a violation of the 'duty of honesty' owed by a licensee to all parties?
- Under Oregon's real estate licensing law, what happens if a broker's license lapses (expires without renewal)?
- An Oregon real estate license is renewed every:
- Under Oregon law, which of the following would allow OREA to deny a license application?
- Oregon requires licensees to complete how many hours of continuing education per renewal period?
- Under ORS Chapter 696, which of the following activities requires an Oregon real estate license?
- When an Oregon licensee changes their affiliated brokerage, what must they do?
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