Topics / Suspension and revocation by operation of law

A corporate broker goes without any officer who holds a valid individual broker's license. After what continuous period are its license and national permit revoked by operation of law?

  1. 60 days
  2. 90 days
  3. 120 days
  4. 180 days
Show the answer

C. 120 days

Failure during any continuous period of 120 days to have at least one licensed member (partnership) or licensed officer (association or corporation) results in revocation by operation of law of the license and the national permit.

Source: 19 CFR 111.45(a)

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