Ch. 563

LAWS OF MARYLAND

A LICENSED REAL ESTATE SALESPERSON MAY EXCHANGE A REAL
ESTATE SALESPERSON LICENSE FOR AN ASSOCIATE REAL ESTATE BROKER
LICENSE AND BECOME AFFILIATED WITH A LICENSED REAL ESTATE BROKER
AS AN ASSOCIATE REAL ESTATE BROKER, IF THE REAL ESTATE
SALESPERSON:

(1)  HAS PREVIOUSLY HELD AN ASSOCIATE REAL ESTATE
BROKER LICENSE OR A REAL ESTATE BROKER LICENSE;

(2)  HAS HELD A LICENSE CONTINUOUSLY SINCE INITIALLY
BEING LICENSED AS AN ASSOCIATE REAL ESTATE BROKER OR A REAL
ESTATE BROKER;

(3)  OBTAINS, FROM A LICENSED REAL ESTATE BROKER, A
COMMITMENT PROVIDING THAT, ON THE GRANTING OF AN ASSOCIATE REAL
ESTATE BROKER LICENSE TO THE REAL ESTATE SALESPERSON, THE REAL
ESTATE SALESPERSON SHALL BECOME AFFILIATED WITH THE BROKER AS AN
ASSOCIATE REAL ESTATE BROKER; AND

(4)  COMPLIES WITH THE APPLICATION PROCEDURES UNDER
SUBSECTION (G) OF THIS SECTION.

(B)  EXCHANGE OF SALESPERSON LICENSE FOR BROKER LICENSE.

A LICENSED REAL ESTATE SALESPERSON MAY EXCHANGE A REAL
ESTATE SALESPERSON LICENSE FOR A REAL ESTATE BROKER LICENSE, IF
THE SALESPERSON:

(1)  HAS PREVIOUSLY HELD AN ASSOCIATE REAL ESTATE
BROKER LICENSE OR A REAL ESTATE BROKER LICENSE;

(2)  HAS HELD A LICENSE CONTINUOUSLY SINCE INITIALLY
BEING LICENSED AS AN ASSOCIATE REAL ESTATE BROKER OR A REAL
ESTATE BROKER; AND

(3)  COMPLIES WITH THE APPLICATION PROCEDURES UNDER
SUBSECTION (G) OF THIS SECTION.

(C)  EXCHANGE OF ASSOCIATE BROKER LICENSE FOR SALESPERSON
LICENSE.

A LICENSED ASSOCIATE REAL ESTATE BROKER MAY EXCHANGE AN
ASSOCIATE REAL ESTATE BROKER LICENSE FOR A REAL ESTATE
SALESPERSON LICENSE AND BECOME AFFILIATED WITH A LICENSED REAL
ESTATE BROKER AS A REAL ESTATE SALESPERSON, IF THE ASSOCIATE
BROKER:

(1) OBTAINS, FROM A LICENSED REAL ESTATE BROKER, A
COMMITMENT PROVIDING THAT, ON THE GRANTING OF A REAL ESTATE
SALESPERSON LICENSE TO THE ASSOCIATE BROKER, THE ASSOCIATE BROKER
SHALL BECOME AFFILIATED WITH THE REAL ESTATE BROKER; AND

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