Question

If a principal broker dies, and it is a sole proprietorship, what should be done with the records of the company?

(a) A receiver will be appointed by the Division to handle the records.
(b) The Division should be notified as to where the records will be stored. (c) They must be transferred to the Division.
(d) The administrator of the broker's estate must keep the records.

Answer 1

If a principal broker dies and it is a sole proprietorship, the records of the company should be transferred to the Division.

Step-by-step explanation:

If a principal broker dies and it is a sole proprietorship, the records of the company should be transferred to the Division. The Division should be notified of the broker's death and the location of the records should be provided. The records are an important part of the business and need to be safeguarded and accessible to ensure continuity.