What penalty may a broker face for changing their business address without notifying the Commission?

A broker changing their business address without notifying the Commission can face significant penalties, including the possibility of having their license suspended or revoked. This is important because maintaining accurate and up-to-date licensing information is crucial for regulatory compliance and consumer protection. Brokers are required to keep the Commission informed about their business status, including their address, to ensure that all communications and legal notifications are properly directed. If a broker fails to do so, it undermines the integrity of the licensing system intended to protect the public and maintain order within the real estate market. Therefore, the severity of the penalty reflects the critical nature of adhering to these legal obligations.