Commercial Licensing Regulation 11 - Real Estate Brokers and Salespersons


230-RICR-30-20-2 INACTIVE RULE

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Title 230 Department of Business Regulation (includes the Office of the Health Insurance Commissioner)
Chapter 30 Commercial Licensing
Subchapter 20 Real Estate
Part 2 Commercial Licensing Regulation 11 - Real Estate Brokers and Salespersons
Type of Filing Amendment
Regulation Status Inactive
Effective 06/22/2008 to 05/27/2009

Regulation Authority:

R.I. Gen. Laws §§ 5-20.5 and R.I. Gen. Laws § 42-14-17.

Purpose and Reason:

The Department of Business Regulation (“Department”) hereby adopts Commercial Licensing Regulation 11 – Real Estate Brokers and Salespersons (“Regulation”) effective June 22, 2008 and makes this statement in accordance with R.I. Gen. Laws § 42-35-2.3. The purpose of this regulation is to promote the general welfare of the citizens of Rhode Island by implementation of R.I. Gen. Laws § 5-20.5-1 et seq. so that the provisions thereunder may be best effectuated and the public interest be most effectively served. Rule 34 is a new rule and is added to this regulation to require all holders of a real estate brokers and salespersons licenses (“Licensees”) to successfully complete a course of at least three (3) clock hours, approved by the Real Estate Commission, on the recently revised law defining relationships in real estate transactions, R.I. Gen. Laws § 5-20.6-1, et seq. This statute was amended on July 6, 2007 and became effective on May 1, 2008.