WILLIAM DONALD SCHAEFER, Governor Ch. 563

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

(D)  EXCHANGE OF ASSOCIATE BROKER LICENSE FOR BROKER
LICENSE.

A LICENSED ASSOCIATE REAL ESTATE BROKER MAY EXCHANGE AN
ASSOCIATE REAL ESTATE BROKER LICENSE FOR A REAL ESTATE BROKER
LICENSE IF THE ASSOCIATE BROKER COMPLIES WITH THE APPLICATION
PROCEDURES UNDER SUBSECTION (G) OF THIS SECTION.

(E)  EXCHANGE OF BROKER LICENSE FOR SALESPERSON LICENSE.

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

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

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

(F)  EXCHANGE OF BROKER LICENSE FOR ASSOCIATE BROKER
LICENSE.

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

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

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

(G)  APPLICATION.

TO EXCHANGE A LICENSE FOR ANOTHER LICENSE, A QUALIFIED
LICENSEE SHALL:

(1) SURRENDER THE CURRENT LICENSE CERTIFICATE AND
POCKET CARD OF THE LICENSEE TO THE COMMISSION;

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