(1) A licensed real estate property manager or managing principal broker shall: (a) Establish and maintain in this state a place of business designated as the real estate licensees main office; (b) Register the main office with the Real Estate Agency under a registered business name as provided in ORS 696.026; (c) Designate the main office by a sign that contains the name under which the real estate licensee conducts professional real estate activity as provided in ORS 696.026; and (d) Before changing a main office location, notify the agency of the new location on a form approved by the agency. (2) The change of a business location without notification to the agency as required by subsections (1) and (6) of this section is grounds for revocation of a real estate license. (3) The place of business of a managing principal broker or licensed real estate property manager must be specified in the application for a registered business name or branch office. (4) A managing principal broker, principal real estate broker with a written supervisory agreement permitting the principal real estate broker to supervise licensees or licensed real estate property manager may: (a) Establish and maintain one or more branch offices as separate business locations under the control and supervision of a licensed real estate property manager, managing principal broker or principal real estate broker with a written supervisory agreement permitting the principal real estate broker to supervise licensees; and (b) Conduct and supervise the professional real estate activity of more than one office, whether a main office or a branch office. (5) Only a managing principal broker or principal real estate broker with a written supervisory agreement permitting the principal real estate broker to supervise licensees may control or supervise a main office, branch office or portions of an office. (6) A licensed real estate property manager or managing principal broker shall: (a) Register each branch office with the agency under a registered business name as provided in ORS 696.026; (b) Designate each branch office by a sign that contains the name under which the real estate licensee conducts professional real estate activity as provided in ORS 696.026; and (c) Before changing a branch office location, notify the agency of the new location on a form approved by the agency. (7) Upon vacating a main office or branch office location, the licensed real estate property manager or managing principal broker shall ensure that the sign containing the registered business name is removed from the location. (8) A licensed real estate property manager or managing principal broker may not display any name at a main office or branch office other than the registered business name under which the real estate licensee conducts professional real estate activity. [Amended by 1955 c.322 14; 1961 c.471 3; 1965 c.367 1; 1973 c.416 7; 1975 c.746 14; 1977 c.649 29; 1979 c.823 1; 1981 c.617 10; 1989 c.532 7; 2001 c.300 16; 2003 c.398 9; 2005 c.116 5; 2009 c.224 4; 2011 c.158 7; 2017 c.234 12; 2025 c.389 11]
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