- The broker is responsible for maintaining the licenses issued to the brokerage, including the licenses of salespersons. If any license is lost or destroyed, the broker must apply for and pay the fee for replacement.
- Any sales license that is returned is placed on inactive status upon receipt by the Division.
- Brokers are required to give written notice to a salesperson if he is returning his license for cancellation (Ohio Administrative Code Section 1301:5-1-06).
- This written notice must be sent by certified mail within 3 days after the license has been returned.
- The notice must include a statement explaining that the agent’s license will be placed on inactive status and their reactivation rights. The broker does not have to explain the reason he is returning the license.
- A broker is not required to return the license of an agent to the Division if the agent has notified the broker that he is transferring his license to another broker.