§37:1458. Penalty
RS 37:1458 – Penalty Whoever violates any of the provisions of this Chapter shall be fined not more than two thousand dollars or imprisoned not more than five years, or both. Acts 1978, No. 514, §1; Acts 2003, No. 713, §1.
§37:1459. Real estate activity; unlicensed persons
RS 37:1459 – Real estate activity; unlicensed persons A.(1) In addition to any other civil remedy or civil penalty provided for in this Chapter, the commission may issue a subpoena to any person or persons who the commission has probable cause to believe has engaged in real estate activity without a currently valid license. (2) […]
§37:1460. Certification and regulation of real estate schools, instructors and continuing education vendors
RS 37:1460 – Certification and regulation of real estate schools, instructors and continuing education vendors A. The Louisiana Real Estate Commission shall have the authority to establish rules and regulations to certify, regulate, and discipline real estate schools and instructors in the state. The commission shall establish standards for course content including the legal, economic, […]
§37:1460.1. Continuing education; meetings and conferences; approved vendors; approval process; exceptions
RS 37:1460.1 – Continuing education; meetings and conferences; approved vendors; approval process; exceptions A. A vendor which has been licensed by the Louisiana Real Estate Commission to provide continuing education courses to licensees of the commission shall be exempt from the continuing education approval processes as set forth in the Louisiana Administrative Code or prescribed […]
§37:1461. Real estate recovery fund
RS 37:1461 – Real estate recovery fund A. There is created the Louisiana Real Estate Recovery Fund, hereinafter referred to as the "recovery fund". Money from the recovery fund shall be disbursed as provided in this Chapter on order of the commission as reimbursement to any person who is adjudged to have suffered monetary damages […]
§37:1462. Conditions for recovery; eligibility
RS 37:1462 – Conditions for recovery; eligibility A.(1) Any person shall be eligible to seek recovery from the recovery fund if all of the following conditions have been met: (a) The claimant has received final judgment in a court of competent jurisdiction in this state in any action wherein the cause of action was based […]
§37:1463. Payment from the fund
RS 37:1463 – Payment from the fund A.(1) Any claimant who meets all of the conditions prescribed in this Chapter may apply to the Louisiana Real Estate Commission to cause payment to be made to such claimant from the recovery fund, in an amount equal to the unsatisfied portion of the claimant’s judgment or twenty […]
§37:1464. Real Estate Research and Education Fund
RS 37:1464 – Real Estate Research and Education Fund A. There is created the Louisiana Real Estate Research and Education Fund. The Louisiana Real Estate Research and Education Fund, hereinafter referred to as the "education fund", is hereby established to promote the advancement and more efficient administration of the real estate industry and thereby serve […]
§37:1465. Real estate franchises
RS 37:1465 – Real estate franchises A person, partnership, limited liability company, association, or corporation, foreign or domestic, acting in the capacity of a franchisor shall not enter into a franchise agreement with a real estate broker in this state unless the franchisor has appointed a Louisiana licensed real estate broker to act as its […]
§37:1466. Errors and omissions insurance; mandatory for all licensees
RS 37:1466 – Errors and omissions insurance; mandatory for all licensees A. All active licensees licensed in accordance with the provisions of this Chapter are mandated to carry errors and omissions insurance to cover all activities contemplated under this Chapter. B. The commission shall make the insurance mandated under this Section available to all licensees […]
§37:1467. Agency
RS 37:1467 – Agency A. Licensees shall provide the parties to a real estate transaction with an agency disclosure informational pamphlet, and where applicable, a dual agency disclosure form as mandated under R.S. 9:3897. B. The commission may prescribe such agency disclosure forms or pamphlets as it deems necessary for the enforcement of this Section. […]
§37:1468. Psychologically impacted property
RS 37:1468 – Psychologically impacted property A. The fact or suspicion that a property might be or is psychologically impacted, such impact being the result of facts or suspicions, including but not limited to: (1) That an occupant of real property is, or was at any time suspected to be, infected, or has been infected […]
§37:1469. Offender notification
RS 37:1469 – Offender notification A. Every written lease or rental agreement executed by any licensee for residential immovable property and every written contract for sale of residential immovable property shall contain a notice of the availability to the public of access to a statewide database disclosing the locations of individuals required to register pursuant […]
§37:1470. Mold informational pamphlet; liability of licensees
RS 37:1470 – Mold informational pamphlet; liability of licensees A.(1) By April 1, 2004, the commission shall, by rule, in accordance with the Administrative Procedure Act, approve a mold informational pamphlet, which may be distributed to buyers by licensees in connection with any real estate transaction entered into on or after July 1, 2004. (2) […]