Section 305 – Restrictions on commissions.
61-2f-305. Restrictions on commissions. (1) Except as provided in Subsection (2), an associate broker or sales agent may not accept valuable consideration for the performance of an act specified in this chapter from a person except the principal broker with whom the associate broker or sales agent is affiliated. (2) An associate broker or sales […]
Section 306 – Rights and privileges of real estate licensees to fill out forms or documents.
Effective 5/10/2016 61-2f-306. Rights and privileges of real estate licensees to fill out forms or documents. (1) Except as provided in Subsection (2), a real estate licensee may fill out only those legal forms approved by the commission and the attorney general, and those forms provided by statute. (2) (a) (i) A principal broker may […]
Section 308 – Brokerage agreements.
Effective 5/13/2014 61-2f-308. Brokerage agreements. (1) As used in this section: (a) “Brokerage agreement” means a written agreement between a client and a principal broker: (i) (A) to list for sale, lease, or exchange, real estate, an option on real estate, or an improvement on real estate; or (B) for representation in the purchase, lease, […]
Section 401 – Grounds for disciplinary action.
Effective 5/4/2022 61-2f-401. Grounds for disciplinary action. The following acts are unlawful and grounds for disciplinary action for a person licensed or required to be licensed under this chapter: (1) (a) making a substantial misrepresentation, including in a licensure statement; (b) making an intentional misrepresentation; (c) pursuing a continued and flagrant course of misrepresentation; (d) […]
Section 301 – Reporting requirements.
61-2f-301. Reporting requirements. (1) A licensee shall notify the division of the following by sending the division a signed statement within 10 business days of: (a) a conviction of, or the entry of a plea in abeyance to: (i) a felony; or (ii) a misdemeanor involving financial services or a financial services-related business, fraud, a […]
Section 302 – Affiliation with a principal broker.
61-2f-302. Affiliation with a principal broker. (1) An individual who is not a principal broker may not engage in an act described in Section 61-2f-201 unless the individual is affiliated with a principal broker as: (a) an associate broker; or (b) a sales agent. (2) (a) An inactive associate broker or sales agent may not […]
Section 303 – Sale agents or associate broker — Affiliated with principal broker as independent contractors or employees — Presumption.
Effective 5/12/2015 61-2f-303. Sale agents or associate broker — Affiliated with principal broker as independent contractors or employees — Presumption. (1) (a) A sales agent or associate broker may be affiliated with a principal broker either as an independent contractor or as an employee. (b) The relationship between sales agent or associate broker and principal […]
Section 202 – Exempt persons and transactions.
Effective 5/4/2022 61-2f-202. Exempt persons and transactions. (1) (a) Except as provided in Subsection (1)(b), a license under this chapter is not required for: (i) a person who as owner or lessor performs an act described in Subsection 61-2f-102(20) with reference to real estate owned or leased by that person; (ii) a regular salaried employee […]
Section 203 – Licensing requirements.
Effective 5/4/2022 61-2f-203. Licensing requirements. (1) (a) (i) The division shall determine whether an applicant with a criminal history qualifies for licensure. (ii) If the division, acting under Subsection (1)(a)(i), denies or restricts a license or places a license on probation, the applicant may petition the commission for de novo review of the application. (b) […]
Section 204 – Licensing fees and procedures — Renewal fees and procedures.
Effective 5/4/2022 61-2f-204. Licensing fees and procedures — Renewal fees and procedures. (1) (a) Upon filing an application for an examination for a license under this chapter, the applicant shall pay a nonrefundable fee established in accordance with Section 63J-1-504 for admission to the examination. (b) An applicant for a principal broker, associate broker, or […]