ARM 24.210.607. SALESPERSON SUPERVISION

(1) Salesperson supervision may be terminated by the supervising broker or salesperson. Upon termination of a supervision: (a) a salesperson must: (i) notify the board of a new supervising broker relationship or change to inactive license status within ten days of the board receiving notice of the termination; or (ii) within ten days of being notified by the board the supervising broker has no active broker license or endorsement, transfer to another supervising broker or change to inactive license status; (b) a supervising broker must within five calendar days of the termination: (i) notify all principals in the salesperson’s listings or transactions that the supervision has terminated, and the listings and pending transactions are now the supervising broker’s responsibility; (ii) if requested, provide the former supervised salesperson with a statement documenting all real estate transactions involving the salesperson while supervised by the supervising broker, within the three years preceding the request; and (iii) inform the broker's supervised salespeople when the supervising broker no longer has an active broker license or endorsement. (2) A supervising broker may temporarily transfer supervision of one or more salespersons to other supervising brokers by providing notice of the temporary transfer to the salesperson. (a) The notice must include: (i) name of the transferred salesperson(s); (ii) effective and termination dates of the transfer; and (iii) acceptance of supervision responsibility by the temporary supervising broker. (b) The supervising broker must provide a copy of the transfer notice to the board within three business days after the beginning of the temporary transfer or a late fee will be assessed. (c) A salesperson not wishing to be temporarily supervised must transfer supervision to a new supervising broker or change to inactive license status. (d) Temporary transfer of a salesperson may not exceed 60 days in any 12-month period unless extended by the board for good cause. (e) Supervising brokers may end a temporary transfer prior to the termination date by providing notice to the temporary supervising broker and the board. (f) A temporary supervising broker must supervise for the agreed length of time and may not transfer supervision to anyone except the original supervising broker. (g) A salesperson must inform the board within ten days of the death or involuntary, unanticipated incapacity of a supervising broker or temporary supervising broker. Supervision of the salesperson may be transferred to a new supervising broker or another temporary supervising broker. (3) A listing agreement negotiated by a salesperson is not valid until it is reviewed, signed, and dated by the supervising broker.