1. Notice in writing must be given by the broker or a corporate officer to the Division within 10 days of any change of name or business location of any licensee or of a change of association of any broker-salesperson or salesperson licensee. Upon the surrender of the license previously issued and the payment of the fee required by law the Division shall issue the license for the unexpired term. 2. Upon the transfer of association of any broker-salesperson or salesperson licensee, application accompanied by the fee required by law must be made to the Division for the reissuance of the license to the broker-salesperson or salesperson for the unexpired term. Such a transfer may only be into an association with a licensed broker or registered owner-developer who must certify to the honesty, truthfulness and good reputation of the transferee. 3. Failure to give notice as required by this section constitutes cause for the revocation of any outstanding license or involuntary inactivation of the license.
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