RULE NO. 11
A Salesman's license is valid only while he is associated with or engaged by a broker. Upon termination of such association, the broker shall immediately endorse the back of the salesman's license, showing date of termination, and return some to the Board for cancellation or transfer. The salesman concerned may have his license re-issued and transferred to a new broker by filing a prescribed transfer form with $1.00 duplicate license fee.