Icursal si

Ail Demostraci$$n

al nueva si

Broker conducts brokerage transactions at two registered branch offices in addition to his principal office. Broker is considering closind one of the existing branch offices and opening another in a different location. If Broker does this, the registration of the closed branch office may

A$.$ be transferred to the new branch office provided Broker pays the applicable transfer fee.

B$.$ be transferred to the new branch office without paying the transfer fee only if the new branch office is in the same municipality as the closed office.

C$.$ be transferred to the new branch office only if the new branch office is established within $30$ days of the closing.

D$.$ not be transferred to the new branch office, and the new branch office must be registered.