Law Book - Arizona Department of Real Estate

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APPENDIX: SUBSTANTIVE POLICY STATEMENTS No. 2005.14 Short Title: Fair Housing Course Substitute Description: Description of Practice/Procedure: Effective Date: August 9, 2005; Revised Novemeber 5, 2008. No. 2005.13 Short Title: Agent Responsibility to Client Description: Interprets the duties of a licensee set out in revised Commissioners Rules. Effective Date: Revised 6/1/2001, Revised & Renumbered 5/28/04, Revised & Renumbered 4/8/05. No. 2005.12 Short Title: Continuing Education, Residential Resale Purchase Contract Description: Interprets the requirement for ‘‘other education or experience’’ for a real estate instructor to be qualified to teach an class on the 2005 Arizona Association of Realtors� Residential Resale Purchase Contract. Effective Date: April 1, 2005. No. 2005.11 Short Title: Subdivision Public Report Application Form, Changes Description: Frequency of changes to the Applications for Subdivision Public Report and provision for comment by stakeholders. Effective Date: April 1, 2005. No. 2005.10 Short Title: Electronic Signatures Description: Acceptance of a broker’s electronic signature on contracts and agreements. Effective Date: November 5, 2004, Renumbered 4/01/05. No. 2005.09 rev Short Title: Non-commercial Requests to Inspect Records and Fees for Copies Description: Availability of Department’s records and the estimated time for production. Effective Date: June 18, 1999, Revised & Renumbered May 28, 2004, Renumbered April 1, 2005, Revised August 21, 2006. No. 2005.08 Short Title: Payment of Commission after License Expiration or Transfer of Employment Description: Department’s position concerning payment of a commission to a licensee after the Licensee has changed employing brokers or the license has expired. Effective Date: June 18, 1999, Revised & Renumbered 5/28/04, Renumbered 4/1/05. No. 2005.07 Short Title: Department investigation of Cases Involving Civil Litigation Description: Investigation of complaints and pursuit of civil remedies. Effective Date: June 18, 1999, Revised & Renumbered 5/28/04, Renumbered 4/1/05. No. 2005.06 Short Title: Electronic Record Keeping Description: Conditions under which brokers may keep required records electronically. Effective Date: August 15, 2000, Revised & Renumbered 5/28/04, Renumbered 4/1/05. No. 2005.05 Short Title: Access to Arizona Real Estate Law Book on the World Wide Web Description: Unrestricted access to the Arizona Real Estate Law Book on the Department’s Web-Site meets the requirement of statute. Effective Date: December 6, 1999, Renumbered 5/28/04, Renumbered 4/1/05. No. 2005.04 Short Title: Unlicensed Assistants Description: Clarification of tasks that can be delegated to an unlicensed assistant. Effective Date: June 18, 1999, Revised & Renumbered 5/28/04, Renumbered 4/1/05. No. 2005.03 Short Title: Disclosure of Licensee’s Home Address Description: Circumstances under which a licensee’s home address must be disclosed. Effective Date: June 18, 1999, Revised & Renumbered 5/28/04, Renumbered 4/1/05. 136
137 APPENDIX: SUBSTANTIVE POLICY STATEMENTS No. 2008.05 No. 2005.02 Short Title: Attendance Requirements for Credit & Enforcement Description: Circumstances when a licensee is entitled to credit for a class. Effective Date: June 18, 1999, Revised & Renumbered 5/28/04, Renumbered 4/1/05. No. 2005.01 Short Title: Acceptable Forms of Payment Description: Methods of payment accepted by the Department. Effective Date: June 18, 1999, Revised & Renumbered 5/28/04, Revised & Renumbered 4/1/05. No. 2008.06 rev. Short Title: Preventing Mortgage Fraud through Disclosure This substantive policy statement is advisory only. A substantive policy statement does not include internal procedural documents that only affect the internal procedures of the agency and does not impose additional requirements or penalties on regulated parties or include confidential information or rules made in accordance with the Arizona Administrative Procedure Act. If you believe that this substantive policy statement does impose additional requirements or penalties on regulated parties you may petition the agency under ARS 41-1033 for a review of the statement. Description of Practice/Procedure: 1. This policy statement applies to real estate transactions with financing. 2. The Department considers a conviction under A.R.S. § 13-2320 to warrant disciplinary action under A.R.S. § 32-2153(B). The Department recommends that a licensee who provides a premium, credit, or rebate in a real estate transaction disclose the premium, credit, or rebate to all parties in the transaction, including the lender and third-party service providers, such as appraisers, in the purchase agreement and the HUD-1 statement (or other writing if no HUD-1 is required). 3. A licensee is in violation of Title 32 Chapter 20 and AAC Title 4 Chapter 28 if: a. The licensee gives a premium, credit or rebate or otherwise pays an individual and is convicted of A.R.S. § 13-2320 (Residential Mortgage Fraud). b. The licensee gives a credit, rebate, premium or otherwise pays an individual in violation of 12 U.S.C. § 2607 et seq. (RESPA’s prohibitions against kickbacks, fee splitting, and unearned fees), Fannie Mae, Freddie Mac, FHA, VA, other federal and state requirements. Authority: A.R.S. §§ 32-2151.01(A), 32-2153(A), 32-2155(A)(B), 32-2163, 32-2176, and R4-28-1101(B). A.R.S. § 32-2102 provides that the department of Real Estate, under the direction of the Real Estate Commissioner, shall administer Title 32 Chapter 20. Policy Program: Regulation Effective Date: 6-18-2008 No. 2008.06 No. 2008.05 rev. Short Title: Continuing Education Requirements for Renewal of 4-Year License This substantive policy statement is advisory only. A substantive policy statement does not include internal procedural documents that only affect the internal procedures of the agency and does not impose additional requirements or penalties on regulated parties or include confidential information or rules made in accordance with the Arizona Administrative Procedure Act. If you believe that this substantive policy statement does impose additional requirements or penalties on regulated parties you may petition the agency under ARS 41-1033 for a review of the statement. Description of Practice/Procedure: 1. An agent or broker (licensee) who has a four-year license must receive 24 hours of continuing education credit (CE) in the first 24 months of the license period and 24 hours of CE in the second 24 months of the license period in order to be eligible for renewal. Each 24 hours of CE must fulfill the requirements established by rule. 2. Prior to the end of each 24-month period, licensees shall provide the following information to the Department:
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The online PDF version of the law b
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32-2101. Definitions In this chapte
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(c) Negotiates or offers, attempts
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59. "Unimproved lot or parcel" mean
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amendment of a license or public re
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The information may include but sha
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32-2137. Cancellation of active lic
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32-2163. Unlawful acts; out-of-stat
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32-2176. Payment of finder fees to
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(b) The subdivision is located with
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83 REAL ESTATE 32-2197.22 B. A pers
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Page 97 and 98: 89 REAL ESTATE 32-2198.14 ment appe
Page 99 and 100: Arizona Administrative Code Editor
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Page 109 and 110: 101 CHAPTER 28. STATE REAL ESTATE D
Page 141: 133 CHAPTER 28. STATE REAL ESTATE D
Page 146 and 147: No. 2008.05 a. The course name b. T
Page 148 and 149: No. 2008.01 APPENDIX: SUBSTANTIVE P
Page 150 and 151: No. 2005.13 requirements or penalti
Page 152 and 153: 2005.10 No. 2005.10 Short Title: El
Page 154 and 155: No. 2005.07 No. 2005.07 Short Title
Page 156 and 157: No. 2005.03 1) collect demographic
Page 158 and 159: No. 2005.01 Policy Program: Busines
Page 160 and 161: AGRICULTURAL ACTIVITIES. Public rep
Page 162 and 163: BROKERS AND SALESPERSONS —Cont’
Page 164 and 165: BROKERS AND SALESPERSONS —Cont’
Page 166 and 167: CLOSING —Cont’d Timeshares, §3
Page 168 and 169: DEFINED TERMS —Cont’d Component
Page 170 and 171: ESCROW OR TRUST ACCOUNTS —Cont’
Page 172 and 173: JOINT VENTURE AGREEMENTS. Membershi
Page 174 and 175: MEMBERSHIP CAMPING BROKERS —Cont
Page 176 and 177: PROFESSIONAL LIMITED LIABILITY COMP
Page 178 and 179: REAL ESTATE BROKERS —Cont’d Lic
Page 180 and 181: REAL ESTATE DEPARTMENT —Cont’d
Page 182 and 183: RENTAL PROPERTY —Cont’d Residen
Page 184 and 185: SUBDIVISIONS —Cont’d Exception
Page 186 and 187: TIMESHARES —Cont’d Public repor
Page 188: Notes
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Law Book - Arizona Department of Real Estate

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