Transcription of LICENSE LAW AND RULES COMMENTS
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LICENSE LAW AND RULES COMMENTS
1 North Carolina Real Estate LICENSE Law and Commission RulesINTRODUCTIONT hese COMMENTS on selected North Carolina Real Es-tate LICENSE Law and Real Estate Commission RULES provisions are intended to assist real estate licens ees, preli-censing course students and others in understanding the Li-cense Law and Commission RULES . The COMMENTS are orga-nized in a topic format that often differs from the sequence in which the topics are addressed in the LICENSE Law and Commission RULES . The topics selected for comment here are not only of particular impor tance in real estate broker-age practice but also are likely to be tested on the real estate LICENSE examination. The appropriate references to the Li-cense Law and Commis sion RULES are provided beside each listed topic. REQUIREMENT FOR A LICENSE General [ 93A 1 and 93A 2]Any person or business entity who directly or indi-rectly engages in the business of a real estate bro-ker for compensation or the promise thereof while physical-ly in the state of North Carolina must have a North Caro-lina real estate broker LICENSE .
2. North Carolina Real Estate License Law and Commission Rules. To qualify for designation as a broker-in-charge, a bro-ker’s license must be on “active” status but NOT on “pro-
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