Jan. 1, 1990; Acts 1995, No. Broker, place of business; branch office license

(g) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby he undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both.

d. renew the license prior to the expiration of any allowable grace period.

In addition to bringing an action in court, violations of this Section may be addressed through mediation services. Added by Acts 1983, No. 514, §1; Acts 1979, No. 354, §1, eff. Money from the recovery fund shall be disbursed as provided in this Chapter on order of the commission as reimbursement to any person who is adjudged to have suffered monetary damages by reason of any of the following acts committed as part of any transaction involving the sale or lease of real property in this state by any real estate broker or salesperson who was licensed under the provisions of this Chapter at the time the alleged act was committed: (1) Any violation of the Louisiana Real Estate License Law. (11) “Franchise agreement” means an agreement whereby one party, the franchisor, authorizes a real estate broker, the franchisee, to use registered trademarks or other advertising tools to create a common identity among several brokers nationally or regionally for marketing purposes. Mold Informational Pamphlet; liability of licensees, This Chapter shall be known and may be cited as the “Louisiana Real Estate License Law.” (29) “Seller” means the transferor in a real estate transaction, and includes an owner who lists real estate with an agent, whether or not a transfer results, or who receives an offer to purchase or lease real estate property of which he is the owner from an agent on behalf of another. (30) “Sponsoring broker” means any individual real estate broker who sponsors associate brokers or real estate salespersons who participate in any activity described in this Section. (c) The licensee or registrant has received the client referral prior to the client contracting to buy or list real estate with the licensee or registrant.

D. Payment of a commission or compensation may be made to and accepted by former licensees and registrants for transactions negotiated by them while duly licensed or registered by the commission. Application for license

D. Payments for claims based upon judgment against any one licensed real estate broker or real estate salesperson shall not exceed in the aggregate fifty thousand dollars. (2) An associate broker or salesperson, whose sponsorship has been terminated, shall be entitled to a license transfer upon submission of a form indicating the transfer to a new broker to the commission and payment of the required fee. An applicant for a salesperson's license in Texas must complete how many clock-hours in real estate core courses? The application shall be in such form and detail as the commission shall prescribe, setting forth the following: (1) The name and address of the applicant and the name under which the applicant intends to conduct business.

(21) Failure of a licensee to provide the parties to a real estate transaction with an agency disclosure informational pamphlet and, where applicable, a dual agency disclosure form. Real Estate Broker: (License) $155 - Initial Application . 655, §1, eff.

(5) A timeshare registration shall not be issued to any person who has not attained the age of eighteen years. page 2), A real estate broker's license may be obtained by any of the following except a, limited liability company. 1207, §1; Acts 1997, No.

(2) Consent judgments shall not be eligible for payment from the recovery fund unless the commission has intervened in the lawsuit and is a party to the consent judgment.
(5) Purchase, acquire, develop, expand, sell, lease, maintain, mortgage, borrow funds, or otherwise contract with respect to immovable property and improvements thereon as it may deem necessary or appropriate to accomplish the provisions of this Chapter.

(3) A receiver, trustee in bankruptcy, administrator, executor, tutor, or civil sheriff for any parish of this state. Jan. 1, 1990; Acts 1997, No.

A timeshare interest sales registration shall not be issued to any person who is not a high school graduate or the holder of a certificate of high school equivalency. Licenses, certificates, or registrations not renewed by January first shall be considered expired. (7) “Client” means one who engages the professional advice and services of a licensee as his agent and whose interests are protected by the specific duties and loyalties imposed by that relationship. Real estate franchises F. The following shall apply to any course submitted for approval or approved for continuing education pursuant to the provisions of this Section: (1) The commission shall not require a separate process to approve the instructor of the course.
Jan. 1, 1990. (4) The accrued surplus, if any, in the recovery fund over and above the four hundred thousand dollar minimum level after payment of the administration and losses from the fund may be transferred on December 31 of each calendar year by voucher properly drawn and signed by the chairman of the commission or his designee to the research and education fund for use as specified in R.S.

July 2, 2003; Acts 2016, No. There is created the Louisiana Real Estate Research and Education Fund.

Errors and omissions insurance; mandatory for all licensees

(3) When an applicant has made a false statement of material fact on his application, such false statement may in itself be sufficient grounds for refusal of a timeshare interest sales registration. Additionally, the commission shall have the authority to borrow funds with the approval of the State Bond Commission and to expend funds of the commission for the acquisition of immovable property and improvements thereon. C. It shall be unlawful for any individual, partnership, limited liability company, corporation, or other legal entity, or the successor or assignee thereof, to create a timeshare plan, or to make sales of timeshare interests, which it owns or purports to own or for another, without first obtaining a registration, as provided in this Chapter, unless exempted, as specified therein. Jan. 1, 1990; Acts 1991, No. Acts 2003, No. (2) The service rendered by an attorney at law on behalf of a client that may be required in the normal course of other legal representation.

b. retake the original license examination and pass it. B. (5) Failure to properly disburse money which belongs to others upon its coming into his possession. (ii) The claimant has diligently pursued his remedies against all the judgment debtors and all persons liable to him in the transaction for which he seeks recovery from the recovery fund. 37:1456, the court shall receive the entire record of the hearing. (g) After proper review, the commission may, after receiving written approval of the state attorney general’s office, pay the claim or offer such compromise as is deemed just and equitable. C. A sponsoring broker shall, within seventy-two hours of notification by the commission, return his license or the license of any associate broker or salesperson sponsored by him when such license has been suspended or revoked by the commission.

(26) “Real estate salesperson” means a person, other than an associate broker, sponsored by a licensed real estate broker to participate in any activity described in this Section. 845, §1; Acts 1999, No.

July 29, 1980; Acts 1989, General Requirements.

A real estate broker's license may be obtained by any of the following except a limited liability company.

The commission shall have the full power and authority to: (1) Regulate the issuance of real estate licenses, registrations, and certificates.


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