Compilation of Rules and Regulations of the State of Georgia
Department 520 - GEORGIA REAL ESTATE COMMISSION
Chapter 520-1 - LICENSURE AND BROKERAGE
Rule 520-1-.12 - Business Brokerage
Current through Rules and Regulations filed through March 20, 2024
Unless otherwise excepted from licensure requirements by O.C.G.A. Section 43-40-29, a person who brokers the sale of a business must hold an appropriate license issued by the Commission if the sale of the business involves the transfer of any interest (including, but not limited to, leasehold or ownership interest) in real property. A business broker and any of the business broker's associates who do not hold licenses issued by the Commission may not negotiate or attempt to negotiate or assist in procuring prospects for the sale of a business where:
(a) that sale involves the transfer of any interest in real property, or
(b) where the payment of all or part of a commission or fee to the business broker or any of the business broker's associates in the sale of a business is contingent upon the transfer of an interest in real estate.
An unlicensed broker may not perform or attempt to perform the acts in the preceding sentence and then secure a person licensed by the Commission to approve that transaction.
See also O.C.G.A. §§ 43-40-1; 43-40-2; 43-40-29; and 43-40-30.
O.C.G.A. Secs. 43-40-2, 43-40-14.
