Unit 3 - 2 State - Law and Commission Rules Flashcards
Unit 3
Who appoints and confirms the cheif administrator (secretary of DBPR)?
Govenor appoints
state senate confirms
Unit 3
Composition of FREC
4 active brokers - licensed at least 5 years
1 active sales associate or broker - licensed for at least 2 years
2 consumers - never licensed
*at least one of the seven members must be 60 or older
Unit 3
FREC commissions pay
$50 per day that participate in commission business + out-of-pocket travel expenses
Unit 3
FREC Executive powers
- regulate and enforce license law
- foster education
- adopt a seal
- establish fees
Unit 3
FREC Quasi-legislative
- Create and pass rules and bylaws - promulgates (adopts) rules
- Regulate professional practices
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FREC Quasi-judicial
- Grant and deny applications
- Suspend or revoke licenses and impose admin fees
- Make determinations of violations
Unit 3
Armed Forces Renewal Exemption
Exempt from renewal provisions during active duty and for 2 years after discharge from active duty. If military duty out of state, then exemption also applies to spouse
Unit 3
Voluntary Inactive vs Involuntary Inactive
Voluntary = put on hold for period of time
Involuntary = fails to renew active or voluntary inactive license
Unit 3
Voluntary relinquish or cancel license
If retiring or no longer desires to be licensed (or to avoid paying fees)
Unit 3
How to reactivate involuntary inactive licenses?
12 months or less = 14 hours of continuing ed
more than 12 months but less than 24 mths = 28 hours Commission-perscriped reactivation course
24 months or more = null and void
Unit 3
Null and Void License
- involuntary inactive from 24+ months
- revoked
- failure to complete post-license education after initial license
- voluntarily relinquish
Unit 3
What would cause Cease to Be in Force? (4)
Cannot conduct business
- broker changes address
- real estate school changes business address
- sales associate changes employer
- instructor changes employer
Unit 3
When should licensees notify DBPR if change address?
within 10 days of change
Unit 3
How long to notify FREC if Florida real estate licensee moves out of state and becomes nonresident of Florida
60 days to notify FREC change in residency
still 10 days to change address, but 60 to comply with nonresident requirements
Unit 3
Multiple licenses
Broker for more than one business entity
