Where a broker who is licensed as a corporation and fails to have at least one officer of the corporation who holds a valid individual broker license, for any continuous period of 120 days, Customs and Border Protection will, regardless whether the broker consents, have the corporation’s broker license and permit:
A. Suspended by operation of law
B. Revoked by operation of law
C. Suspended after a 60-day grace period
D. Revoked after a 60-day grace period
E. Suspended after a 90-day grace period
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The Answer is: B
Citation: 19 CFR 111.45
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