Question 73

A broker's license may remain on deposit indefinitely if the broker sends a notarized statement indicating the licensee will conduct no business while the license is on deposit.

A broker's license can be kept on deposit indefinitely when the broker provides a notarized statement confirming that they will not engage in any business activities during this period.

A) the broker complies with post-licensure education and continuing education requirements and pays renewal fees.

While maintaining education and paying renewal fees are important for keeping a broker's license active, they do not specifically relate to the indefinite deposit of a license. Therefore, this option does not address the conditions for an indefinite deposit.

B) the broker requests, in writing, by certified mail, that the license be put on deposit.

Submitting a written request by certified mail is a procedural step but does not stipulate the requirements for maintaining the license on deposit indefinitely. This option lacks the necessary condition regarding the conduct of business.

C) the broker sends a notarized statement indicating the licensee will conduct no business while the license is on deposit.

This option is correct because it explicitly states the requirement that allows the broker's license to remain on deposit indefinitely. By submitting a notarized statement, the broker confirms their intention not to engage in business, which aligns with the regulations governing license deposits.

D) the broker pays renewal fees for five years in advance and conducts no business while the license is on deposit.

Although this option mentions conducting no business, which is important, the prepayment of renewal fees for five years is not a requirement for indefinite deposit. Hence, this option does not satisfy the conditions needed for the indefinite deposit of the license.

Conclusion

The correct answer highlights the necessity of providing a notarized statement indicating the broker will not conduct any business, which is a specific condition for indefinite deposit. Other options either misinterpret the requirements or introduce unnecessary conditions that do not apply to the indefinite status of the license. Thus, option C is definitively the only choice that meets the criteria set forth for maintaining a broker's license on deposit indefinitely.