A broker terminates the individually licensed broker qualifying their corporate license in Houston, Texas. The same individual also was the qualifier for their local permit. The decision is made to replace the positions vacated with two different individually licensed brokers. How long do they have to replace each individual before the license and permit are revoked by operation of law?
A) 150 continuous days for the license qualifier and 180 continuous days for the local permit qualifier
B) 180 continuous days for the license qualifier and 120 continuous days for the local permit qualifier
C) 120 continuous days for the license qualifier and 180 continuous days for the local permit qualifier
D) 200 continuous days for the license qualifier and 365 continuous days for the local permit qualifier
E) 365 continuous days for both positions
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The Answer is: C
Citation: 19 CFR 111.45 (a)
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