OAR 863-014-0085: Authorization to Control Managing Principal Broker's Business

(1) A managing principal broker may authorize another managing principal broker to control and supervise their professional real estate activity and use their registered business name during their absence only if: (a) The authorizing managing principal broker provides written authorization as required by this rule, and (b) The supervising managing principal broker accepts the supervising responsibility in writing. (2) Both licensees have joint responsibility for all professional real estate activity conducted during the authorizing managing principal broker’s absence. (3) The written authorization required by this rule must contain the following information: (a) The authorizing managing principal broker’s authorization, including the effective date and the termination date of such authorization, which may not exceed 90 days; (b) The supervising managing principal broker’s affirmation accepting the supervisory responsibility; and (c) An affirmation by both managing principal brokers acknowledging that they are jointly responsible for the professional real estate activity during the dates of the authorization. (4) The authorizing managing principal broker may end the authorization before the termination date by filing an amended authorization before the termination date. (5) The written authorization required by this rule must be received by the Agency before the effective date of such authorization on an Agency-approved form. The Commissioner may allow a later filing for good cause shown. (6) The Agency will maintain the written authorization as an Agency record. (7) This rule provides an exception to OAR 863-014-0095(7), which prohibits a managing principal broker from engaging in professional real estate activities under more than one registered business name. That is, a supervising managing principal broker may conduct professional real estate activity under both the authorizing managing principal broker’s registered business name and the supervising managing principal broker’s registered business name if the parties meet the requirements contained in this rule. This exception does not allow a managing principal broker to conduct professional real estate activity under more than these two registered business names