Lawriter - OAC - 1301:5-3-06 Implied authority of officers.

1301:5-3-06 Implied authority of officers.

For the purposes of division (B) of section 4735.08 of the Revised Code, authorized members or officers shall include any member or officer whose authority may be implied or apparent by virtue of their capacity with said partnership, association, corporation, limited liability company, or limited liability partnership and shall not be limited to those with express authority to so act. Members or officers vested with such implied authority, or having apparent authority, to perform the functions of a real estate broker or salesperson on behalf of the organization must be licensed as a real estate broker or salesperson.

R.C. 119.032 review dates: 06/25/2012 and 06/30/2016
Promulgated Under: 119.03
Statutory Authority: 4735.10
Rule Amplifies: 4735.08
Prior Effective Dates: 12/31/1975, 4/8/1985, 9/24/2000