(a)    A licensed real estate salesperson may transfer affiliation from a licensed real estate broker to another licensed real estate broker, if the real estate salesperson:

(1)    obtains, from the other licensed real estate broker, a commitment providing that, on cancellation of the current affiliation of the real estate salesperson and issuance of a new license certificate and pocket card to the real estate salesperson, the real estate salesperson shall become affiliated with the licensed real estate broker as a real estate salesperson; and

(2)    complies with the application procedures under subsection (c) of this section.

(b)    A licensed associate real estate broker may transfer affiliation from a licensed real estate broker to another licensed real estate broker, if the associate real estate broker:

(1)    obtains, from the other licensed real estate broker, a commitment providing that, on cancellation of the current affiliation of the associate broker and issuance of a new license certificate and pocket card to the associate broker, the associate broker shall become affiliated with the licensed real estate broker as an associate real estate broker; and

(2)    complies with the application procedures under subsection (c) of this section.

(c)    To transfer affiliation under this section, a qualified real estate salesperson or associate real estate broker shall:

(1)    surrender the license certificate and pocket card of the salesperson or associate broker to the Commission;

(2)    submit to the Commission a transfer application on the form that the Commission provides;

(3)    submit to the Commission:

(i)    acknowledgment from the licensed real estate broker with whom the salesperson or associate broker currently is affiliated that the affiliation is terminated; or

(ii)    a statement from the salesperson or associate broker that the current affiliation of the salesperson or associate broker is terminated;

(4)    submit to the Commission adequate evidence that the salesperson or associate broker has obtained, from a licensed real estate broker, a commitment providing that the salesperson or associate broker shall become affiliated with the licensed real estate broker as a real estate salesperson or an associate real estate broker on cancellation of the current affiliation of the salesperson or associate broker and issuance of a new license certificate and pocket card to the salesperson or associate broker; and

(5)    pay to the Commission a transfer fee set by the Commission.

(d)    On compliance by the applicant with the procedures of subsection (c) of this section, the Commission shall issue a new license certificate and pocket card to each real estate salesperson and associate real estate broker who meets the applicable requirements under this subtitle.