CHAPTER 6
TERMINATION AND TRANSFER
193E—6.1(543B) Terminating employment or association. When a licensee is discharged by the affiliated broker or the licensee terminates the employment or association with the affiliated broker, the licensee immediately ceases all activities that need an active real estate license until such time as a new affiliated broker makes written request for the license and the license is reassigned to the new affiliated broker.
	6.1(1) When a broker discharges a salesperson or broker associate, the broker complies with all criteria of Iowa Code section 543B.33. The releasing broker makes a reasonable effort to ensure that an application to inactivate the licensee is submitted electronically to the commission within 72 hours of the discharge date.
	6.1(2) The licensee may terminate the employment or association by providing written notice to the affiliated broker advising the effective date of the termination and requesting that the license be immediately returned to the commission. The affiliated broker cannot refuse to comply with the request. The releasing broker makes every reasonable effort to ensure that the commission receives the electronic application within 72 hours of the termination date.
[ARC 7768C, IAB 4/17/24, effective 5/22/24]
193E—6.2(543B) Transfer of license and necessary transfer application. All requests for transfer of license are made on the necessary electronic application for license transfer available from the commission. The license transfer application is only used for transferring the license from the affiliated broker to a new affiliated broker. This transfer application is only to be used if the transferring licensee has obtained the necessary information from the new affiliating broker. The license transfer application cannot be used for licensees who are terminated or who quit prior to obtaining a new affiliating broker. The transfer application cannot be backdated to a new affiliated broker.
	6.2(1) The license transfer process involves three steps, and each step needs to be correctly completed to qualify as a valid transfer. The steps are as follows:
	a. 	The transferring licensee submits the electronic transfer application available from the commission.
	b. 	Both the new affiliating broker and releasing broker electronically approve the transfer request within 48 hours of receiving notification from the commission of the transfer request.
	c. 	The electronic transfer application is approved and issued by the commission.
	6.2(2) Transfer effective date. The effective date of the transfer is the date of approval and issuance from the commission.
[ARC 7768C, IAB 4/17/24, effective 5/22/24]
These rules are intended to implement Iowa Code chapters 17A, 272C and 543B.
[Filed 8/9/02, Notice 6/26/02—published 9/4/02, effective 10/9/02]
[Filed ARC 8284B (Notice ARC 8058B, IAB 8/26/09), IAB 11/18/09, effective 12/23/09]
[Filed ARC 7768C (Notice ARC 7447C, IAB 1/10/24), IAB 4/17/24, effective 5/22/24]