Protecting the public interest in regulated real estate transactions

Business Licensing Requirements

Sole Proprietorship:
The designated broker must complete all requirements for a broker’s license.  If already licensed as a broker, submit a Notice of Change Form to show the change to the new office.  In addition, the following documents are required:
1.         An additional completed license application for the business.  The expiration date of a business license will be the same as the expiration date of the designated broker’s license.
2.         A completed Trust Account Notification form. 
3.         If applicable, a copy of the file-stamped Certificate of Assumed Business Name from the Idaho Secretary of State.


Corporation, Limited Liability Company, Partnership, Limited Liability Partnership,
Limited Partnership:
The designated broker must complete all requirements for a broker’s license.  If already licensed as a broker, submit a Notice of Change Form to show the change to the new office.  In addition, the following documents are required:
1.         An additional completed license application for the business entity.  The expiration date of a business entity license will be the same as the expiration date of the designated broker’s license.
2.         Proof of separate errors and omissions insurance for the business entity.
3.        A completed Trust Account Notification form. 
4.         If applicable, a copy of the file-stamped Certificate of Assumed Business Name from the Idaho Secretary of State.

and one of the following:

Corporation
5.         A copy of the Idaho Secretary of State file-stamped Articles of Incorporation or Certificate of Authority.
6.         A copy of the meeting minutes or corporate resolution naming the designated broker, who shall be an officer of the corporation.
7.         A list of officers, Directors, and their addresses.

Limited Liability Company
5.         Copy of the Idaho Secretary of State file-stamped Articles of Organization or Registration of Foreign LLC.
6.         The portion of the operating agreement naming the designated broker, who shall be a member or a manager of the LLC.
7.         A list of members, managers, and their addresses.

Partnership
5.         Copy of the Idaho Secretary of State file-stamped Statement of Partnership Authority, if applicable.
6.         Copy of the portion of Partnership Agreement naming the designated broker, who shall be a partner.
7.         A list of partners and their addresses.

Limited Liability Partnership
5.         Copy of the Idaho Secretary of State file-stamped Statement of Qualification or Statement of Foreign Qualification.
6.         Copy of the LLP partnership or operating agreement naming the designated broker, who must be a general partner.
7.         A list of all partners and their addresses.

Limited Partnership
5.         Copy of the Idaho Secretary of State file-stamped Certificate of Limited Partnership or Certificate of Authority for Foreign Limited Partnership.
6.         Copy of the Partnership Agreement naming the designated broker, who must be a general partner.
7.         A list of all partners and their addresses.

Licensed Branch Office
The designated broker of the main office must name a managing associate broker for the branch office.  The branch office must operate under the same name as the main office.  The managing associate broker must complete all requirements for a broker’s license.  If already licensed as a broker, submit a Notice of Change Form to show the change to the new office.  In addition, the following documents are required:
1.        A completed branch office application.
2.        A completed Trust Account Notification form.