§ 111.11 Basic requirements for a license.

(a) Individual. In order to obtain a broker's license, an individual must: (1) Be a citizen of the United States on the date of submission of the application referred to in § 111.12(a) and not an officer or employee of the United States Government; (2) Attain the age of 21 prior to the date of submission of the application referred to in § 111.12(a); (3) Be of good moral character; and (4) Have established, by attaining a passing (75 percent or higher) grade on an examination taken within the 3-year period before submission of the application referred to in § 111.12(a), that he has sufficient knowledge of customs and related laws, regulations and procedures, bookkeeping, accounting, and all other appropriate matters to render valuable service to importers and exporters. (b) Partnership. In order to qualify for a broker's license, a partnership must have at least one member of the partnership who is a broker. (c) Association or corporation. In order to qualify for a broker's license, an association or corporation must: (1) Be empowered under its articles of association or articles of incorporation to transact customs business as a broker; and (2) Have at least one officer who is a broker.