---
kind: "section"
citation: "7 C.F.R. § 46.3"
title: "7"
number: "46.3"
heading: "License required."
url: "https://uscodex.org/cfr/7/46.3"
---

# §46.3. License required.

- (a) No person shall at any time carry on the business of a commission merchant, dealer, or broker without a license which is valid and effective at such time.
- (b) **Separate licenses are required for each person.** More than one trade name may be used by the same person only after such trade names have been approved in writing by the Director.
- (c) Joint account arrangements between two or more licensees are not considered to result in separate firms and, therefore, do not require separate licenses.

## Notes

### Authority

Authority: 7 U.S.C. 499a-499t.

### Source

Source: 28 FR 7067, July 11, 1963; 28 FR 7287, July 17, 1963, unless otherwise noted.