TITLE 876 INDIANA REAL ESTATE COMMISSION
Final Rule
LSA Document #11-325(F)
DIGEST
876 IAC 1-1-19 Termination of association with principal broker; duties of parties
Authority: IC 25-1-8-2; IC 25-34.1-2-5
Sec. 19. Any licensee, upon termination of his or her association with a principal broker, shall turn over to the principal broker any and all listings obtained during his or her association unless otherwise stipulated by a written contract. The listings shall remain the property of the principal broker whether originally given to the licensee by the principal broker or copied from the records of the broker. The principal broker of a terminated salesperson is responsible for submitting to the commission, within five (5) business days of the termination, a notification form provided by the commission and signed by the terminating broker and attesting to the termination. In the event the terminated licensee is transferring to a new principal broker, it shall be the responsibility of the licensee to provide the commission with a transfer application signed by the licensee and the new principal broker and pay a ten dollar ($10) the transfer fee established in 876 IAC 2-18-1. The licensee is responsible for submitting to the commission the transfer application at the time of this association with another principal broker. The broker-salesperson's or salesperson's license will remain in the commission's unassigned file of licensees who are currently not associated with a principal broker until a transfer application is timely received. A licensee who terminates his or her
association with a principal broker must immediately notify the commission of his or her change of address.
Authority: IC 25-1-8-2; IC 25-34.1-2-5
Sec. 1. (a) The fee schedule is as follows:
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| | (1) Application for real estate salesperson license | $25 |
| | (2) Application for real estate broker license | $50 |
| | (3) Renewal of real estate salesperson license | $25 |
| | (4) Renewal of real estate broker license | $50 |
| | (5) Transfer of license | $10 |
| | (6) Activation of inactive license | $10 |
| | (7) Application for continuing education course sponsor | $50 |
| | (8) Renewal of continuing education course sponsor | $50 |
(b) In addition to the fees required under IC 25-34.1-3-3.1 and IC 25-34.1-3-4.1, subsection (a), the commission shall charge and collect the following fees which shall be nonrefundable and nontransferable, for the investigative fund under IC 25-34.1-8-7.5 for the issuance and renewal of a:
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| | (1) Real estate salesperson license | $10 |
| | (2) Real estate broker license | $10 |
(c) All fees charged and collected under this rule shall be nonrefundable and nontransferable.
(Indiana Real Estate Commission; 876 IAC 2-18-1; filed Aug 12, 2004, 10:12 a.m.: 28 IR 213, eff Oct 1, 2004; readopted filed Nov 17, 2010, 10:01 a.m.: 20101215-IR-876100411RFA; filed Feb 17, 2012, 10:40 a.m.: 20120314-IR-876110325FRA)
876 IAC 4-1-2 Application for sponsor of continuing education courses
Authority: IC 25-34.1-9-21
Sec. 2. (a) Applicants for sponsor approval who do not conduct salesperson or broker courses under IC 25-34.1-5 shall submit the following information:
(1) The:
(A) name;
(B) address;
(C) telephone number; and
(D) facsimile (FAX) number (if any);
of the sponsor.
(2) The name, address, and resume of the school director responsible for real estate administrative matters such as the following:
(A) Program development.
(B) Scheduling of classes.
(C) Advertising.
(D) Maintaining facilities and equipment.
(E) Record keeping.
(F) General supervision of the instructional program.
(3) If the ownership of the sponsor is a partnership, the names and addresses of the partners.
(4) If the ownership of the sponsor is a corporation, the names and addresses of the officers and directors.
(5) If the ownership of the sponsor is a limited liability company, the names and addresses of the members and managers.
(b) All applicants for continuing education course sponsorship approval shall submit the following:
(1) A course content outline describing the subjects to be offered during the approval period.
(2) The name, address, and resume of course instructors and a statement that each instructor meets the qualifications required by section 8 of this rule.
(3) A statement that the sponsor shall provide the licensee who successfully completes an approved course, a certificate of course completion indicating the following:
(A) The name, address, and signature of the sponsor.
(B) The name, address, and license number of the attendee.
(C) The title of the course.
(D) The course location.
(E) The date of the course.
(F) The number of continuing education credit hours completed.
(4) A statement that:
(A) the sponsor shall conduct an instructor and course evaluation; and that
(B) they shall be provided to the commission upon request.
(5) An application fee in the amount of fifty dollars ($50). established in 876 IAC 2-18-1.
Authority: IC 25-34.1-9-21
Sec. 5. (a) Under IC 25-34.1-9-14(a), a sponsor of a salesperson level continuing education course shall submit by December 1 of each odd-numbered year the following information to request approval renewal:
(1) A letter requesting such renewal.
(2) A renewal fee of fifty dollars ($50). established in 876 IAC 2-18-1.
(b) Under IC 25-34.1-9-14(b), a sponsor of broker level continuing education courses shall submit by December 1 of each even-numbered year the following information to obtain approval renewal:
(1) A letter requesting such renewal.
(2) A renewal fee of fifty dollars ($50). established in 876 IAC 2-18-1.
Authority: IC 25-34.1-9-21
Sec. 9. (a) In order to reactivate an inactive license at the time of license renewal, the licensee must have obtained all sixteen (16) hours of continuing education which that would have been required for renewal had the license been active.
(b) In order to reactivate an inactive license during a two (2) year licensure period, the licensee must obtain the six (6) hours of continuing education required by IC 25-34.1-9-11(a)(1) for that two (2) year licensure period and pay a ten dollar ($10) the transfer fee established in 876 IAC 2-18-1.
(c) A licensee who has reactivated the licensee's license during a two (2) year licensure period under subsection (b) must obtain the ten (10) hours of continuing education required by IC 25-34.1-9-11(a)(2) in order to renew the license at the end of the two (2) year licensure period.
Hearing Held: October 5, 2011
Approved by Attorney General: January 30, 2012
Approved by Governor: February 16, 2012
Filed with Publisher: February 17, 2012, 10:40 a.m.
Documents Incorporated by Reference: None Received by Publisher
Small Business Regulatory Coordinator: Jeanette Roberts, Commission Director, Indiana Real Estate Commission, Professional Licensing Agency, Indiana Government Center South, 402 West Washington Street, Room W072, Indianapolis, IN 46204, (317) 234-3046, jeroberts@pla.in.gov
Posted: 03/14/2012 by Legislative Services Agency
DIN: 20120314-IR-876110325FRA
Composed: Apr 16,2024 6:14:46AM EDT
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