1. (a)

   1. (1) All branch offices shall have and display a real estate sign and a duplicate principal broker’s license.
   2. (2) Principal brokers who wish to open a branch office shall furnish to the Arkansas Real Estate Commission a photograph of the branch office sign as previously approved by the commission bearing the name of the company.
   3. (3) If licensees are to be licensed at that branch office, an executive broker shall be designated by the principal broker, to be in charge of the branch office.
   4. (4) Such executive broker shall be responsible for any licensee licensed with such branch office pursuant to a written designation of responsibility filed by the principal broker with the commission on a form provided by the commission consistent with 17 CAR § 220-1003(a)(1), and shall not be gainfully employed or engaged in any non-real estate related field pursuant to 17 CAR § 220-1003(e).
2. (b) If such branch office maintains its own trust account or separate escrow agent, the principal broker shall be responsible and accountable for any and all trust funds received by the branch office and any and all deposits to or disbursements from the trust account.

3. (c)

   1. (1) A principal broker of a licensee that is licensed at the principal broker’s place of business or any branch office thereof may authorize that licensee to be issued a duplicate license at the principal broker’s place of business or at any branch office where the principal broker holds a duplicate license.
   2. (2) Provided, however, a duplicate license shall not be issued at a branch office unless an executive broker has been designated to be in charge of the branch office.

Codification Notes: This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: “(Amended 1/1/2010)”