Which entity must a subdivider file a service agreement with in case they cannot be located?

Prepare for the North Carolina Broker Reciprocal Exam. Sharpen your skills with flashcards and multiple-choice questions. Each question offers explanations to ensure clarity and understanding. Get ready to excel!

A subdivider is responsible for ensuring compliance with various regulations, including those regarding how to handle transactions and agreements if they become unreachable. Filing a service agreement is a critical step that allows for proper communication and legal standing in real estate transactions.

The requirement to file a service agreement with the Secretary of State stems from the need for a designated point of contact for legal notices or processes. This ensures that if the subdivider cannot be located—due to a change in address, dissolution of the entity, or other reasons—there's still a recognized authority or representative who can be contacted regarding any legal matters or complaints that arise related to the subdivision.

This filing helps maintain transparency and accountability in real estate transactions, as it creates a public record of who is responsible for the subdivision. It is a necessary requirement that serves to protect buyers and the integrity of the real estate market.

By contrast, the other entities mentioned, like the Department of Revenue, Real Estate Commission, and County Clerk, serve different roles in the context of real estate and business operations. They might not have the specific authority or responsibility assigned to handle service agreements in the way that the Secretary of State does.

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