Administrative Rule Review Report  #AR08-055

Legislative Service Office

28-Jul-08

 

AGENCY:                                        Wyoming Real Estate Commission.

 

DATE SUBMITTED:                      July 22, 2008.

 

SUBJECT:                                       Chapter II, Section 4, Qualification for a License, Section 7, Fees, and Section 11, Brokers' Trust

 

NATURE OF RULES:                     Legislative, procedural.

 

STATUTORY AUTHORITY:         W.S. 33-28-105(a).

 

DETERMINATION OF PROCEDURAL COMPLIANCE BASED UPON INFORMATION

SUBMITTED BY THE AGENCY TO LSO:  Apparently complete to date.

 

SUMMARY OF RULES:  The rules amended provide for the regulation of real estate salesmen and real estate brokers.  The rules are amended to require that real estate broker applicants with a degree in real estate must provide a certificate of completion for Broker Course I and must pass the state and national broker examination.  The rules are also amended to increase the examination fee from $125 to $140.  In addition, the rules are amended to require that "money belonging to others" which is accepted by a broker shall be deposited in a bank or recognized depository in this state and the account must be insured by an agency of the United States government.

 

FINDINGS:  The rules appear to be within the scope of statutory authority and legislative intent.

 

STAFF RECOMMENDATION:  That the rules be placed on the Consent List and be approved by the Council as submitted by the Agency.

 

 

 

                                                                        _______________________

                                                                        Joshua Anderson

                                                                        Staff Attorney

 

                                                                        _______________________

                                                                        David K. Gruver

                                                                        Assistant Director

JDA/