VI. Managing Broker Duties
Multiple Managing Broker Licences
A managing broker may be licensed in relation to a maximum of four offices of a brokerage (i.e. a head office and three branch offices or four branch offices) or a maximum of four brokerages that are affiliated within the meaning of the Business Corporations Act. The maximum number of managing broker licences an individual may hold, whether in relation to branch offices or affiliated brokerages, is four.
When an individual has been issued multiple managing broker licences, these additional licences will then be identified as a “multiple managing broker licence”. The multiple managing broker licences are not required to carry separate errors and omissions insurance. Accordingly, if the individual then wishes to transfer his/her licence to another firm, only the “managing broker” licence will be used for transfer and the “multiple managing broker” licences will be terminated.