Associate real estate broker's license; issuance to principal and nonprincipal; limitation.

Sec. 2509. (1) The department may issue more than 1 associate real estate broker's license to principals of a real estate broker. (2) An individual shall not hold more than 1 associate real estate broker's license as a nonprincipal, but an individual may hold 1 or more associate real estate broker's licenses as a principal.