If a broker or a residential leasing agent terminates employment with the sponsoring broker for any reason, the licensee must obtain his license from the sponsoring broker, or designated managing broker, if so designated by the sponsoring broker.
- The licensee can terminate their license on their own.
- Once a licensee terminates their sponsorship with their sponsoring broker, their licenses become inactive until they find a new sponsoring.
If the licensee is simply changing brokers:
- The sponsoring broker also sends the original endorsed license from the previous sponsoring broker within 24 hours of sponsorship along with the required fee.
