Licensure of real estate organizations.

No real estate broker’s license shall be issued to any firm, franchise, partnership, association, or corporation unless the Mayor finds that:

(1) The applicant is organized and exists pursuant to applicable District and federal laws;

(2) Every person member, partner, trustee, or officer who is engaged in activities defined in this subsection is licensed under this subchapter;

(3) Every employee who will render professional services holds a valid license or certificate issued by the Board; and

(4) Every branch office is managed by a licensed real estate broker.