324.3 12 Commission's right to return of associate's license -- Sanction for failure to return. (1) A principal broker shall return an associate's license to the commission immediately: (a) Upon the written termination of the association between the broker and the associate; or (b) At any time upon the commission's request. (2) If a principal broker fails to return a license to the commission as required by subsection (1) of this section within five (5) business days, the commission shall consider the license a s released, and the principal broker shall be in violation of KRS 324.160(4)(u). Effective: June 25, 2009 History: Amended 2009 Ky. Acts ch. 58, sec. 11, effective June 25, 2009. -- Amended 2000 Ky. Acts ch. 488, sec. 28, effective July 14, 2000. -- Create d 1998 Ky. Acts ch. 313, sec. 1, effective July 15, 1998.
Kentucky Legal Code