As used in this part 2, unless the context otherwise requires: “Commission” means the real estate commission created in section 12-10-206. “Employing real estate broker” or “employing broker” means a broker who is shown in commission records as employing or engaging another broker. “Limited liability company” shall have the same meaning as it is given […]
It is unlawful for any person, firm, partnership, limited liability company, association, or corporation to engage in the business or capacity of real estate broker in this state without first having obtained a license from the commission. No person shall be granted a license until the person establishes compliance with the provisions of this part […]
All persons desiring to become real estate brokers shall apply to the commission for a license under the provisions of this part 2. Application for a license as a real estate broker shall be made to the commission upon forms or in a manner prescribed by the commission. Prior to submitting an application for a […]
Every licensee under this part 2, except an inactive broker or an attorney licensee who maintains a policy of professional malpractice insurance that provides coverage for errors and omissions for their activities as a licensee under this part 2, shall maintain errors and omissions insurance to cover all activities contemplated under parts 2 to 6 […]
The commission shall make available for each licensee a license in such form and size as the commission shall prescribe and adopt. The real estate license shall show the name of the licensee and shall have imprinted thereon the seal, or a facsimile, of the department and, in addition to the foregoing, shall contain such […]
There is hereby created a commission of five members, appointed by the governor, which shall administer parts 2 and 5 of this article 10. This commission is known as the real estate commission and consists of three real estate brokers who have had not less than five years’ experience in the real estate business in […]
There is hereby created within the department the division of real estate. The executive director is authorized by this section to employ, subject to the provisions of the state personnel system laws of the state, a director of the division, who in turn shall employ such attorneys, deputies, investigators, clerks, and assistants as are necessary […]
A nonresident of the state may become a real estate broker in this state by conforming to all the conditions of this part 2; except that the nonresident broker shall not be required to maintain a place of business within this state if that broker maintains a definite place of business in another state. If […]
The commission shall maintain a record of the names and addresses of all licensees licensed under the provisions of parts 2 and 5 of this article 10, together with such other information relative to the enforcement of the provisions as deemed by the commission to be necessary. Publication of the record and of any other […]
The commission shall have the authority to obtain information from each educational institution authorized to offer courses in real estate for the purpose of compiling the number of applicants who pass the real estate licensure examination from each educational institution. The information shall include the name of each student who attended the institution and a […]
Immediate notice shall be given in a manner acceptable to the commission by each licensee of any change of business location or employment. A change of business address or employment without notification to the commission shall automatically inactivate the licensee’s license. A broker who transfers to the address of another broker or a broker applicant […]
Fees established pursuant to section 12-10-215 shall be charged by and paid to the commission or the agent for the commission for the following: Each broker’s examination; Each broker’s original application and license; Each renewal of a broker’s license; Any change of name, address, or employing broker requiring a change in commission records; A new […]
A broker applying for renewal of a license pursuant to section 12-10-212 (4) shall include with the application a certified statement verifying successful completion of real estate courses in accordance with the following schedule: For licensees applying for renewal of a three-year license, passage within the previous three years of the Colorado portion of the […]
All fees collected by the commission under parts 2 and 5 of this article 10, not including administrative fees that are in the nature of an administrative fine and fees retained by contractors pursuant to contracts entered into in accordance with section 12-10-203 or 24-34-101, shall be transmitted to the state treasurer, who shall credit […]
This section applies to all activities of the division under parts 2, 5, 6, and 7 of this article 10. The division shall propose, as part of its annual budget request, an adjustment in the amount of each fee that it is authorized by law to collect under parts 2, 5, 6, and 7 of […]
The executive director shall adopt a seal by which all proceedings authorized under parts 2 and 5 of this article 10 shall be authenticated. Copies of records and papers in the office of the commission or department relating to the administration of parts 2 and 5 of this article 10, when duly certified and authenticated […]
The commission, upon its own motion, may, and, upon the complaint in writing of any person, shall, investigate the activities of any licensee or any person who assumes to act in the capacity of a licensee within the state, and the commission, after holding a hearing pursuant to section 12-10-219, has the power to impose […]
As used in this section, unless the context otherwise requires: “Affiliated business arrangement” means an arrangement in which: A provider of settlement services or an associate of a provider of settlement services has either an affiliate relationship with or a direct beneficial ownership interest of more than one percent in another provider of settlement services; […]
Except as otherwise provided in this section, all proceedings before the commission with respect to disciplinary actions and denial of licensure under this part 2 and part 4 of this article 10 and certifications issued under part 5 of this article 10 shall be conducted by an administrative law judge pursuant to the provisions of […]
All rules adopted or amended by the commission are subject to sections 24-4-103 (8)(c) and (8)(d) and 24-34-104 (6)(b). Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 640, § 1, effective October 1. Editor’s note: This section is similar to former § 12-61-114.5 as it existed prior to 2019.
