Is it legal for Jim Smith, a new sales associate, to rename the firm Smith-Thomas Realty together with his broker, Thomas?

In Kentucky, it is important that a real estate firm’s name accurately reflects the ownership or the legal entity of the firm. When renaming a real estate firm, the name must comply with state regulations which typically stipulate that it should include the name of the broker in charge and must not suggest a false impression regarding the entity's nature or ownership.

In this scenario, since Jim Smith is a sales associate and does not have ownership rights in the brokerage firm, he cannot independently rename the firm along with his broker Thomas. Such renaming could mislead clients regarding the organization's structure and authority. Thus, the act of renaming the firm to indicate shared ownership or control when it does not legally exist would violate these regulations.

This highlights the integrity of brokerage naming conventions and ensures that consumers are made aware of who is responsible for the operations of the firm. Therefore, the action described in the question would be considered illegal under Kentucky real estate law.