Notice of Public Hearing
Under IC 4-22-2-24
, notice is hereby given that on April 29, 2014, at 10:30 a.m., at the Indiana Government Center South, 402 West Washington Street, Room W064, Indianapolis, Indiana, the Indiana Real Estate Commission will hold a public hearing on a proposed rule that repeals all of the Commission's rules (except 876 IAC 3
concerning the licensure of appraisers) and adds new rules (876 IAC 5
through 876 IAC 9
) in their place, based upon recent legislation (P.L.127-2012 (SEA 275) and P.L.200-2013 (SEA 615)) among other things addressing the elimination of the salesperson license and educational requirements for brokers and to reorganize and streamline with some changes in substantive requirements.
This proposed rule will adopt needed provisions to properly implement SEA 275 (P.L.127-2012) and SEA 615 (P.L.200-2013), which include the replacement of the two license system (salespersons and brokers) with a single broker license and requires the Commission to establish and approve the education required of brokers including prelicensure education, postlicensure education, continuing education, and education for brokers who want to become managing brokers.. The proposed rule also better organizes the Commission's rules including revising and updating practice requirements to better reflect current real estate practice.
Copies of these rules are now on file at the Indiana Government Center South, 402 West Washington Street, Room W072 and Legislative Services Agency, Indiana Government Center North, 100 North Senate Avenue, Room N201, Indianapolis, Indiana and are open for public inspection.
Nicholas W. Rhoad