Effect of suspension or revocation of principal broker license on associated licensees. The suspension or revocation of a managing principal broker’s license renders inactive every license of the real estate brokers and timeshare sales agents engaged by the managing principal broker pending a transfer of the license. The Real Estate Agency shall transfer a license rendered inactive under this section if the real estate licensee requests a transfer within 30 days after the effective date of the suspension or revocation of the managing principal broker’s license and pays a transfer fee. [Amended by 1969 c.674 §18; 1975 c.746 §24; 1977 c.649 §43; 1981 c.617 §15b; 1989 c.724 §10; 2001 c.300 §32; 2005 c.116 §9; 2025 c.39 §16; 2025 c.389 §23]

ORS 696.320 — under Chapter 696.