Commercial Licensing Regulation 11 - Real Estate Brokers and Salespersons
230-RICR-30-20-2 INACTIVE RULE
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.