Fillable $50 LIMITED LIABILITY PARTNERSHIP LICENSE APPLICATION (Idaho Real Estate Commission)

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$50 LIMITED LIABILITY PARTNERSHIP LICENSE APPLICATION (Idaho Real Estate Commission)

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REE-116-21
Rev. 07/2020
IREC use only
License #:
__________________________
Receipt #
: __________________________
Approved:
__________________________
575 E. Parkcenter Blvd., Suite 180
Boise, Idaho 83706
Office:(208)334-3285
irec.idaho.gov
LIMITED LIABILITY PARTNERSHIP
LICENSE APPLICATION
$50
$50
INSTRUCTIONS: Submit this original, completed application form with the required fee and
ALL attachments. Applications that are illegible, incomplete, or missing the fee or required
attachments will be immediately returned without processing.
Applications that are faxed/emailed cannot be accepted.
Your company is not licensed until IREC approves the license application. It is unlawful for your company to engage in the
businessoractinthecapacityofarealestatelicenseeinIdahowithoutrstobtainingalicense.Allow10businessdaysto
process the completed application.
NOTE: Applications are processed in the order received. Updates on the status of license applications will NOT
be given over the phone. When your company and license number appear on active status in the Public Database
Search on the IREC website, the license has been approved.
1. LIMITED LIABILITY PARTNERSHIP INFORMATION
Name of Limited Liability Partnership:
DoingBusinessAs(DBA)name,ifany:
(the DBA name must be registered with the Idaho Secretary of State)
Physical address:
City State Zip
Mailingaddress(ifdifferentfromabove):
City State Zip
Businessphone(required): Fax:
Email: Website:
2. DESIGNATED BROKER: Every limited liability partnership shall designate and appoint a general partner to be the
DesignatedBroker(DB)forthelimitedliabilitypartnership.
a. Proposed DB: ______________________________________________________________________________
Name LLP Title
b. Does the proposed DB already have an Idaho broker license?
No - Attach a completed broker license application for the proposed DB
Yes - Provide Idaho Broker license number _____________________
I have completed the Idaho Business Conduct & Offi ce Operations* or Brokerage Management*
course within the 3 years immediately preceding the date of this application (inactive to active DB or
AB to DB applicants only). *Attach a copy of the completion certifi cate if not already on your IREC
education record.
3. Will this company replace an existing company?
No
Yes - I acknowledge IREC will terminate the existing company named below:
Name of Company: ______________________________________________________ Lic. #: ______________
4. ERRORS & OMISSIONS INSURANCE: (E&O insurance must have an eective date on or before the date you submit
your application)
Rice Insurance Services Company (Commission group policy - attach copies of separate RISC certicates of coverage
- 1 for the DB and 1 for the LLP) - OR
Independent Coverage (attach completed, signed Certication of E&O Coverage form(s) (REE-141 and/or REE-142)
showing coverage for both the DB and the Limited Liability Partnership)
REQUIRED ATTACHMENTS
____ $50licensefee(checkorcreditcardauthorizationform) ...........................................................................................................
____ Listofpartners(names,titlesandaddressesofallpartnersofthepartnership)..........................................................................
____ LimitedLiabilityPartnershipRegistration(attachthele-stampedcopyofeithertheStatement of Qualication
of Limited Liability Partnership or Statement of Foreign Qualication(ifaforeignlimitedliabilitypartnership)issued
bytheIdahoSecretaryofState)...................................................................................................................................................
____ DBARegistration(ifapplicable,attachale-stampedcopyofaCerticate of Assumed Business Name issued
bytheIdahoSecretaryofState)...................................................................................................................................................
____ Limited Liability Partnership Agreement stating that the proposed DB has full authority to act on behalf of the
company, is a general partner, and has been named the Designated Broker for the company...................................................
____ TrustAccountNoticationForm(REE-088)whetheryouwillholdentrustedfundsornot...........................................................
____ E&OInsuranceCerticationofCoverageformforboththeDBandthecompany(REE-141/REE-142).....................................
____ BrokerLicenseApplicationforproposedDB(ifnotalreadylicensedasanIdahobroker).............................................................................
____IhavecompletedtheBCOOorBrokerageManagementcoursewithintheprevious3years(inactivetoactiveDB
orABtoDBapplicantsonly).........................................................................................................................................................
_____________________________________________
Proposed Designated Broker (signature)
NOTARY IS REQUIRED
State of )
 )ss.
County of )
I, , a notary public, do hereby certify that on this day
of , 20 ,
personallyappearedbeforemewho,beingbymerstdulysworn,declaredthathe/sheistheproposeddesignatedbrokerandageneral
partner of the limited liability partnership, that he/she signed the foregoing
document on behalf of the limited liability partnership, and that the statements therein contained are true.
___________________________________________________
Notary Public
notary seal
___________________________________________________
My Commission Expires
NOTICE: Because of rising costs associated with issuing a refund, it is the policy of IREC to refund overpayments of under $25 only if requested in writing
within 30 days of IREC receipt of the overpayment. Overpayments of $25 or more will be automatically refunded. There is a $20 fee assessed for each
check returned to IREC for insucient funds.
REE-116-21 Rev. 07/2020 Page 2 of 2
IREC use
ONLY
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$50 LIMITED LIABILITY PARTNERSHIP LICENSE APPLICATION (Idaho Real Estate Commission)

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Completed 28 December 2021

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