The superintendent of real estate shall issue a real estate broker's license when the superintendent is satisfied that:
(A) An applicant who is not a partnership, association, limited liability company, limited liability partnership, or corporation satisfies one of the following:
(1) Has received a passing score on each portion of the real estate broker's examination as determined by rule by the real estate commission;
(B) All the members or officers who are authorized to perform the functions of a real estate broker as the agents of an applicant that is a partnership, association, limited liability company, limited liability partnership, or corporation, are licensed themselves as real estate brokers under this chapter.
Effective Date: 09-22-2000 .