OAR 863-024-0063. Property Manager License Transfers, Principal Brokers’ Responsibilities, Authority to Use Registered Business Name

(1) As used in this rule "License transfer application" means an online application that does one of the following: (a) Transfers a property manager license to a receiving property manager in order to become associated with the managing principal broker or licensed property manager, or (b) Authorizes a licensed property manager to use a registered business name to conduct the management of rental real estate. (2) An online license transfer application, available through the Agency’s website, includes: (a) The name and license number of the property manager licensee who is being transferred; (b) The name of the receiving property manager, license number, date, signature, and attestation or the authorized use of the registered business name. (3) An authorized principal broker or licensed property manager with whom a property manager licensee is associated remains responsible for the associated licensee’s management of rental real estate until the Agency receives one of the following: (a) An online inactivation application available through the Agency’s website; or (b) An online license transfer application and fee. (4) If an authorized principal broker or licensed property manager with whom a licensed property manager is associated doesn’t complete the online inactivation process, the authorized principal broker or licensed property manager remains responsible for the associated licensee’s subsequent management of rental real estate until the Agency receives one of the following: (a) An online inactivation application available through the Agency’s website; or (b) An online license transfer application and fee; or (c) An online registered business name application and fee initiated by the receiving property manager. (5) The Agency will document the registered business name under which a property manager licensee is authorized to conduct management of rental real estate when the Agency receives an online license transfer application or new registered business name application and the fee authorized by ORS 696.270.