Place of business.

If a real estate broker maintains more than one place of business within the District, a duplicate license shall be issued to the broker for each office upon payment of the required fee. A copy of the license must be posted within each office. Whenever a real estate broker changes the location of his or her principal place of business, or discontinues his or her business, he or she shall notify the Mayor within 15 days of the event, in writing, and return to the Mayor his or her license together with the licenses of all real estate salespersons employed by him or her. The Mayor shall issue a new license to the broker upon payment of the required fee. A salesperson shall be issued a new license upon reemployment and payment of the required fees. Failure to notify the Mayor or to return the license as required by this section will result in immediate suspension of the license until the real estate broker has complied with the provisions of this section. New licenses for the unexpired term may be issued by the Mayor upon written request by the applicant and the payment of the fees required pursuant to this subchapter.