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KRS 324.115

Brokers required to maintain definite place of business -- Exception for reciprocity agreements

Applied in 1 court decision — leading case Sims v. Reeves (1953)

Most recently applied in Sims v. Reeves (October 1953)

Effective: July 14, 2000 History: Amended 2000 Ky

(1) Except as provided in subsection (2) of this section, every broker licensed under KRS 324.045 shall maintain a definite place of business in this state.

(2) A broker who is a nonresident shall not be required to maintain an active place of business in this state if:

(a) He or she maintains a business place in the state of original licensure;

(b) The state of original licensure, in accordance with its reciprocity agreement with the commission, does not require Kentucky licensees holding licenses in that state to maintain an office in that state; and (c) Paragraphs (a) and (b) of this subsection do not conflict with the commission's agreement of reciprocity with the state of original licensure.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.