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ACROSS SESSIONS
- Subject Index: Since 1995
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Developed and maintained by the Division of Legislative Automated Systems.
1995 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 54.1-2106 of the Code of Virginia is amended and reenacted as follows:
§ 54.1-2106. License required.
No person, partnership, association, limited liability company, or
corporation shall act as a real estate broker or real estate salesperson or
advertise or assume to act as a real estate broker or real estate salesperson
without a license issued by the Real Estate Board. Nothing in this
chapter shall prohibit persons licensed by the Board from incorporating or
forming a limited liability company; however, no partnership,
association, limited liability company, or corporation shall be
granted a license, unless every member or officer of the partnership,
association, limited liability company, or corporation, who
actively participates in its brokerage business, and each manager
of a limited liability company, holds a license as a real estate broker,
and unless every employee and every independent contractor who acts as a
salesperson for such partnership, association, limited liability
company, or corporation holds a license as a real estate salesperson. A
person who holds a license as a real estate broker may act as a salesperson
for another real estate broker.