ND HB1250

Amends North Dakota Century Code section 43-23-05.1 to allow the commission to license organizations of real estate salespersons, brokers, or broker associates under specified conditions.

Organizations must be owned solely by licensed individuals (alone, with their spouse, or with other licensed salespersons, brokers, and broker associates from the same firm).

Licensed organizations cannot engage in real estate transactions as third-party agents or conduct any activities requiring a license, and cannot advertise themselves as a real estate broker or brokerage firm.

Employing or associating brokers retain full supervisory obligations and liability for individuals in licensed organizations, and individuals forming organizations remain personally liable for licensed activities.

Commission may adopt rules establishing a one-time license fee for organizations licensed as salespersons, brokers, or broker associates.