45:15-20 Nonresident licenses.

252 words·~1 min read·/nj/title-45/chapter-15/45-15-20

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A nonresident may become a real estate broker, broker-salesperson, or salesperson by conforming to all of the provisions of R.S.45:15-1 et seq. All nonresident licenses issued by the commission prior to July 1, 1994 may be renewed upon payment of the renewal fees established pursuant to R.S.45:15-15. All nonresident licenses so renewed shall be issued by the commission in the same form as a resident license. In the event that any person to whom a nonresident license is issued fails to maintain or renew the license or to obtain a new license from the commission for a period of two or more consecutive years, the person shall be required to fulfill the requirements for initial licensure established pursuant to R.S.45:15-9 prior to the issuance of any further license.

A licensed broker whose main office is not located within this State shall only provide brokerage services concerning real estate located within this State either personally or through persons in the broker's employ or with whom the broker has contracted who are the holders of real estate broker-salesperson or salesperson licenses issued by the commission. In the event that a broker maintains one or more branch offices in this State, no person shall engage in the business of a real estate broker, broker-salesperson, or salesperson at those offices unless the person is a holder of a license issued by the commission authorizing him to do so.

amended 1938, c.227, s.2; 1949, c.214; 1961, c.88, s.3; 1993, c.51, s.29; 2009, c.238, s.16; 2018, c.71, s.22.