543B.1 License mandatory. A person shall not, directly or indirectly, with the intention or upon the promise of receiving any valuable consideration, offer, attempt, agree to perform, or perform any single act as a real estate broker whether as a part of a transaction or as an entire transaction, or represent oneself as a real […]
543B.12 Expenses of members — compensation. Members of the real estate commission are entitled to be reimbursed for their actual expenses in the performance of duties pertaining to their office within the limits of the funds appropriated to the commission. Each member of the commission may also be eligible to receive compensation as provided in […]
543B.13 Seal — records. The real estate commission shall adopt a seal with such design as the commission may prescribe engraved thereon, by which it shall authenticate its proceedings. Copies of all records and papers in the office of the commission, duly certified and authenticated by the seal of said commission, shall be received in […]
543B.14 Fees and expenses. All fees and charges collected by the real estate commission under this chapter shall be paid into the general fund of the state, except that twenty-five dollars from each real estate salesperson’s license fee and each broker’s license fee is appropriated to the professional licensing and regulation bureau of the banking […]
543B.15 Qualifications. 1. Except as provided in section 543B.20 an applicant for a real estate broker’s or salesperson’s license must be a person whose application has not been rejected for licensure in this or any other state within twelve months prior to the date of application, and whose real estate license has not been revoked […]
543B.16 Application forms. 1. Every applicant for a license shall apply in writing upon blanks prepared or furnished by the real estate commission. The real estate commission shall not require that a recent photograph of the applicant be attached to the application. The real estate commission shall only require an applicant to disclose on the […]
543B.18 Enforcement of rules. The real estate commission is expressly vested with the power and authority to make and enforce any and all such reasonable rules connected with the application for any license as shall be deemed necessary to administer and enforce the provisions of this chapter. [C31, 35, §1905-c33; C39, §1905.30; C46, 50, 54, […]
543B.19 License denied — hearing. If the real estate commission, after an application in proper form has been filed with it, accompanied by the proper fee, shall deny a license to the applicant, upon the applicant’s application in writing, and within a period of thirty days of such denial, the applicant shall be entitled to […]
543B.2 Individual licenses necessary. A partnership, association, corporation, professional corporation, or professional limited liability company shall not be granted a license, unless every member or officer of the partnership, association, corporation, professional corporation, or professional limited liability company who actively participates in the brokerage business of the partnership, association, corporation, professional corporation, or professional limited […]
543B.20 Examination. Examinations for a license shall be given as often as deemed necessary by the real estate commission, but no less than one time per year. Each applicant for a license must pass an examination authorized by the commission and administered by the commission or persons designated by the commission. The examination shall be […]
543B.21 Nonresident license. A nonresident of this state may be licensed as a real estate broker or a real estate salesperson, upon complying with all requirements of law and with all the provisions and conditions of this chapter relative to resident brokers or salespersons and the filing by the applicant with the real estate commission […]
543B.22 Nonresident’s place of business. A nonresident to whom a license is issued upon compliance with all the other requirements of law and provisions of this chapter, is not required to maintain a definite place of business within this state. Provided that the nonresident, if a broker, shall maintain an active place of business within […]
543B.23 Actions against nonresidents. Every nonresident applicant, before the issuance of a license, shall file an irrevocable consent that suits and actions may be commenced against such applicant in the proper court of any county of this state in which a cause of action may arise, by the service of any process or pleadings authorized […]
543B.24 Custody of salesperson’s license. The license of a real estate salesperson shall be delivered or mailed to the real estate broker by whom the real estate salesperson is employed and shall be kept in the custody and control of the broker. [C31, 35, §1905-c36; C39, §1905.33; C46, 50, 54, 58, 62, 66, 71, 73, […]
543B.25 Display of license. Repealed by 2017 Acts, ch 71, §13.
543B.27 Fees. 1. The real estate commission shall set fees for examination and licensing of real estate brokers and real estate salespersons. The commission shall determine the annual cost of administering the examination and shall set the examination fee accordingly. The commission shall set the fees for the real estate broker’s licenses and for real […]
543B.28 Expiration of license. Every license shall expire in multiyear intervals as determined by the real estate commission. A person who fails to renew a real estate broker’s or real estate salesperson’s license by the expiration date shall be allowed to do so within thirty days following its expiration, but the commission may assess a […]
543B.29 Revocation or suspension. 1. A license to practice the profession of real estate broker and salesperson may be revoked or suspended when the licensee is guilty of any of the following acts or offenses: a. Fraud in procuring a license. b. Having made a false statement of material fact on an application for a […]
543B.3 Broker — definition. As used in this chapter, “real estate broker” means a person acting for another for a fee, commission, or other compensation or promise, whether it be for all or part of a person’s time, and who engages directly or indirectly in any of the following acts: 1. Sells, exchanges, purchases, rents, […]
543B.30 Actions — license as prerequisite. A person engaged in the business or acting in the capacity of a real estate broker or a real estate salesperson within this state shall not bring or maintain any action in the courts of this state for the collection of compensation for services performed as a real estate […]
