Under certain conditions, a corporation can be licensed as a real estate broker. Which of the following is one of those conditions?

Question

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One of the conditions for a corporation to be licensed as a real estate broker is that a principal officer of the corporation must be licensed as a broker. Option A is incorrect because having an office in California is a requirement for a corporation to conduct business, but it is not a condition for being licensed as a real estate broker. Option B is incorrect because using declared dividends to pay sales commissions is not a condition for being licensed as a real estate broker. Option C is incorrect because the chairman of the board does not need to have a real estate salesperson's license for the corporation to be licensed as a real estate broker.

Under Certain Conditions, a Corporation Can Be Licensed as a Real