§30-40-26. Duties of Licensees
Every broker, associate broker and salesperson owes certain inherent duties to the consumer which are required by virtue of the commission granting a license under this article. The duties include, but are not limited to: (a) At the time of securing any contract whereby the broker is obligated to represent a principal to a real […]
§30-40-17. Place of Business; Branch Offices; Display of Certificates; Custody of License Certificates; Change of Address; Change of Employer by a Salesperson or Associate Broker; License Certificates; Term of License
(a) Every person holding a broker's license under the provisions of this article shall: (1) Have and maintain a definite place of business within this state, which shall be a room or rooms used for the transaction of real estate business and any allied business. The definite place of business shall be designated in the […]
§30-40-18. Trust Fund Accounts
(a) Every person licensed as a broker under the provisions of this article who does not immediately deliver all funds received, in relation to a real estate transaction, to his or her principal or to a neutral escrow depository shall maintain one or more trust fund accounts in a recognized financial institution and shall place […]
§30-40-19. Refusal, Suspension or Revocation of a License
(a) The commission shall have full power to refuse a license for reasonable cause or to revoke, suspend or impose any other sanction against a licensee if the licensee: (1) Obtains, renews or attempts to obtain or renew a license, for himself, herself or another, through the submission of any application or other writing that […]
§30-40-7. General Powers and Duties
The commission has all the powers set forth in article one of this chapter and in addition: (a) May sue and be sued in its official name as an agency of this state; (b) Shall employ an executive director and shall fix his or her compensation subject to the general laws of this state. The […]
§30-40-8. Rule-Making Authority
(a) The commission may propose rules for legislative approval in accordance with the provisions of article three, chapter twenty-nine-a of this code which are necessary for the conduct of its business, the holding of hearings and for the general implementation, enforcement and administration of the provisions of this article, including, but not limited to, establishing, […]
§30-40-9. Fees; Special Revenue Account; Administrative Fines
(a) All fees and other moneys, except administrative fines, received by the commission shall be deposited into the treasury of the state, at least once each month, into a special revenue fund known as the "real estate license fund" which is continued. (b) Except as may be provided in section ten, article one of this […]
§30-40-10. Civil Liability for Commission Members; Liability Limitations of Person Reporting to Commission
(a) Members of the commission shall be immune from individual civil liability for actions taken in good faith and without malice, within the scope of their duties as commission members. (b) Any person who reports or otherwise provides evidence of violations of this article, the commission's rules, orders or final decisions to the commission or […]
§30-40-11. Application for License
The commission shall only issue an original license to an applicant if he or she: (a) Submits an application, in writing, in a form prescribed by the commission which must contain, but is not limited to: (1) The applicant's social security number;
§30-40-12. Qualifications for Broker's License
(a) An applicant for a broker's license shall: (1) Have served an apprenticeship as a licensed salesperson for two years or shall produce evidence satisfactory to the commission, in its sole discretion, of real estate experience equivalent to two years full-time experience as a licensed salesperson;