33-28-109. Responsible broker to establish a real estate company, maintain fixed principal office; change of address; branch offices; restrictions on associate brokers and salespersons.

(a) Each resident responsible broker shall lawfully establish at least one (1) but no more than three (3) real estate companies or sole proprietorships within Wyoming and acquire a license for each real estate company or sole proprietorship. Each resident responsible broker shall maintain a fixed principal office for each company or sole proprietorship within this state. The address of each office shall be designated on all licenses associated with the office and no license issued under this act shall authorize the licensee to transact real estate activity at any other address except a licensed branch office. In case of removal from a designated address, the responsible broker shall apply to the commission before the removal designating the new location of an office and paying the required fee, whereupon the commission shall issue a license for the new location for the unexpired period if the new location complies with the terms of this act.

(b) A responsible broker may conduct business from a branch office. A branch office shall use the same trade name or business name as the licensed real estate company. A company license shall be issued to the responsible broker for each branch office the responsible broker maintains. Every branch office shall be under the direction and supervision of the responsible broker. A responsible broker requesting a branch office license shall also, in addition to the branch office application, submit a plan of supervision for the branch office for approval by the commission.

(c) An associate broker or salesperson shall not be associated or engaged under contract to any other responsible broker than is designated upon the license issued to the associate broker or salesperson. Upon termination of an associate broker's or salesperson's association or contractual relationship, his responsible broker shall immediately notify the commission for cancellation of the associate broker's or salesperson's license. Whenever a licensed associate broker or salesperson desires to change his contractual relationship from one (1) responsible broker to another, he shall notify the commission promptly in writing of the facts attendant thereon and pay the required fee. Upon application, the commission shall issue a new license under the new responsible broker. No associate broker or salesperson shall directly or indirectly associate himself with a responsible broker until he has been issued a license to do so with that responsible broker.

(d) No more than one (1) license to conduct real estate activity shall be issued to any responsible broker, associate broker or salesperson to be in effect at one (1) time except as provided in subsection (a) of this section.