Unit 3-License Law & Commission Rules Flashcards Preview

FL REAL ESTATE -39th Edition 2016 > Unit 3-License Law & Commission Rules > Flashcards

Flashcards in Unit 3-License Law & Commission Rules Deck (27)
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1

When should the DBPR be regulated?

-harm to the public
-public not adequately protected by other statutes
-less restrictive means of regulation not available

2

Characteristics of the DBPR?

-under th executive branch of the governor

-governed by CH 120 F.S

-granted authority under Chapter 455 F.S. To investigate consumer complaints, issue subpoenas, issue cease and desist orders to unlicensed individuals an issue citations to individuals licensed by the DBPR

3

Who is the chief administrator of the DBPR?

Secretary of the DBPR appointed by the governor subject to confirmation by the state Senate

4

Mailing Address

10 DAYS---10 DAYS---10 DAYS

Licensee is responsible for notifying DBPR in writing of current mailing address, email, and place of practice within 10 DAYS

5

Who creates the state exam?

The Division of Professions
(Under the DBPR)

6

Who provides an ARBITRATION program to handle recall and election disputes for HOA's

Division of FL Condominiums, Timeshares and Mobile Homes

7

What is the DRE and their duties?

Division of Real Estate

Director appointed by secretary of DBPR and subject to majority approval of FREC

Duties are executive and ministerial-RECORDKEEPING

8

FREC

-FLORIDA REAL ESTATE COMMISSION

-Legislative
-regulate brokers, broker Assoc, sales Assoc, brokerage firms, Real Estate Schools
-protect general public by ensuring licensees have at least a minimal degree of competence

9

What is the Composition of the FREC?

7 Licensed Members
4- must be FL RE Brokers w/active license during 5 years preceding appointment
-1 MUST BE broker or associate with active license for 2 years
2-Consumer Members-never licensed
-AT LEASTOINE MEMBER must be 60 or older

10

FREC Term Of Office

Appointed by Governor to 4 year staggered terms
-may not serve more than 2 consecutive terms
-Accountable to Governor
-Exempt from civil liability while serving
-meeting monthly at DRE (orlando)

11

What are the general Powers and Duties of the FREC?

-EXECUTIVE
-regulate and enforce license law
-foster education
-adopt a seal-affixed to rules/regs
will serve as PRIMA FACIE evidence.

-QASI-LEGISLATIVE
Enact/revise administrative rules/regs
And interpret questions regarding the
practice of RE (create/pass rules)

-Qasi Judicial
Power to grant or deny license application
Determine license law applications
Determine license law VIOLATIONS
administer PENALTIES
** FREC MAY NOT IMPOSE IMPRISONMENT

12

DBPR

Department of business and professional regulation

Charged with licensing in regulating business and professionals in Florida

13

License Issue

All licenses issued with expiration date of:
March 31
September 30

law mandates initial license period provide 18 months of licensure but no more than 24 mos

Is ASSOCIATE later decided to become a BROKER, license will have a new official effective date

14

License Renewal

DBPR sends notice 90 DAYS PRIOR

Licensees must complete post licensing or CE requirement before renewal. Submitting renewal serves as it ice to DBPR that CE requirements have been met.

If licensee renews after expiration-Late Fee

If licensee doesn't renew-license is placed on involuntary inactive status... Has 24 mos to renew

15

Armed forces Renewal Exemption

Exempt from renewal provisions during active duty and 6 MONTHS after discharge.

16

Temporary License

DBPR may issue to spouse of an active duty member assigned in FL.

Spouse must hold valid license in another state or foreign jurisdiction.

Expires after 6 months and IS NOT RENEWABLE

17

Active License Status

-achieved by finding employer and registering with DBPR under employing broker or owner developer.


18

Voluntary Inactive Status

Qualified for a license but voluntarily chose not to engage in the RE business

19

Involuntary Inactive Status

Licensee fails to renew an active or voluntary inactive license before expiration date (other than 1st renewal)

Placed in involuntary inactive status for no more than 2 years

After 2 years it becomes NULL and VOID

If Invol Inactive 12months must complete 28 hours of FREC Prescribed course

20

May the FREC reinstate a license that has become Null and Void? When?

YES! If it determines illness or economic hardship as a reason for non-compliance.

Licensee must apply for reinstatement w/in 6 months after Null and Void date.

21

What happens when a BROKER'S License is suspended or revoked?

There is NO DISCIPLINARY action against the associate or the broker associate

Licensed registered under broker may not continue-placed on involuntary inactive status

Associates free to seek employment elsewhere

Returned to ACTIVE when employee chosen and info filed with DBPR


22

Null and Void status

NO longer exists
Revoked after disciplinary proceedings

23

Voluntarily Relinquish

Person no longer wishes to practice


Can't be any disciplinary proceedings/investigations against the license

24

Cease to be in Force

Sales associate leaves 1 broker and wants to work for another.

Until registered under NEW BROKER...license ceases to be in force

25

10 DAY Notifications to DBPR

Broker or School changes business address

Sales Associate or RE Instructor changes employer
Failure to give 10 day notification will result in disciplinary action by FREC

26

Multiple Licenses

Issued to Broker who qualifies as broker for more than 1 business entity

27

Group License

ONLY ISSUED TO OWNER DEVELOPERS

No requirement for a license if they only sell their own property