law

Broker-in-Charge (South Carolina)

In South Carolina the broker-in-charge (BIC) is the single broker designated to oversee an office and every affiliated licensee. The BIC supervises licensees, approves office forms, keeps a written office policy and a written policy on brokerage relationships and fair housing, controls the trust account, and notifies the Commission within 10 days of office changes. This authority cannot be delegated. Associates must deliver trust funds to the BIC by the next business day; earnest money checks are deposited within 48 hours of written acceptance.