(a) A licensee who acts as a member of a team, or holds himself or herself or to be a member of a team, shall be subject to this section. (b) The leader of any team shall be designated as team leader with the qualifying broker. The qualifying broker may not delegate to the team leader the responsibilities and duties of the qualifying broker. The team leader shall maintain a list of the members of the team and provide the list to the qualifying broker. (c) A team does not require licensure or registration with the commission as a separate business organization. (d) No person shall be a member of more than one team. (e) The commission shall adopt rules addressing what words may or may not be used in a team name and how teams may advertise and market. At a minimum, any licensee who advertises as being part of a team shall do all of the following: (1) Include the name of at least one of the team members in the advertisement. (2) Include the name of the company with whom the licensee is licensed in the advertisement. (3) Include the term “team” or “group” in the team name. (4) Receive written authorization from the qualifying broker of the licensee to include the team name in the advertisement.
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