Kentucky Revised Statutes (Last Updated: May 10, 2014) |
TITLE XXVI. OCCUPATIONS AND PROFESSIONS |
CHAPTER 324. REAL ESTATE BROKERS AND SALESMEN |
010. Definitions for chapter. |
020. Requirement of licensing -- Application of chapter to owner or builder-developer -- Prohibition against fee splitting -- Supervision of sales associate -- Authority to seek injunctive relief. |
030. Exceptions to KRS 324.020. |
040. Application for license as broker or sales associate. |
045. Qualifications for license -- Examination -- Fee -- Criminal record check. |
046. Requirements for initial licensure. |
047. Repealed, 1982. [Repealed] |
048. Repealed, 1982. [Repealed] |
050. Repealed, 1982. [Repealed] |
060. Repealed, 1972. [Repealed] |
070. Repealed, 2000. [Repealed] |
080. Form of license certificate -- Delivery. |
085. Continuing education requirements -- Qualifications of instructors -- Administrative regulations. |
090. Expiration of license -- Fine for failure to renew on time -- Expired status. |
092. Repealed, effective July 1, 1980. [Repealed] |
094. Repealed, effective July 1, 1977. [Repealed] |
100. Repealed, 1982. [Repealed] |
105. Repealed, 1982. [Repealed] |
110. Repealed, 1982. [Repealed] |
111. Escrow account of broker -- Interest -- Audit -- Contract deposit release -- Separate property management accounts. |
115. Brokers required to maintain definite place of business -- Exception for reciprocity agreements. |
116. Repealed, 1960. [Repealed] |
117. Advertising -- Affiliations to be listed -- Administrative regulations of commission. |
120. Repealed, 1942. [Repealed] |
121. Designation of licensee as exclusive agent -- Effect of designation -- Availability of dual agency. |
130. Repealed, 1942. [Repealed] |
140. Repealed, 1982. [Repealed] |
141. Reciprocal licensing between states -- Consent to service of process by nonresident applicant. |
142. Promotion of sales in Kentucky of property located outside state. |
150. Investigation of licensee -- Disciplinary action against licensee --Investigative powers of commission -- Emergency hearings. |
151. Complaints -- Answers. |
160. Sanctions -- Grounds for sanctions. |
162. Agent's duty to disclose. |
165. Prohibited business practices -- Penalties. |
170. Hearing to precede any disciplinary action -- Notice -- Conduct of hearing. |
180. Repealed, 1942. [Repealed] |
190. Repealed, 1996. [Repealed] |
200. Hearing -- Denial of license or any other disciplinary action -- Appeal -- Stay of judgment pending appeal. |
210. Repealed, 1996. [Repealed] |
220. No other license to be issued for five years after revocation. |
230. Revocation or suspension of principal broker's license renders inactive the license of person associated with broker. |
Commercial Real Estate Brokerage |
235. Definitions for KRS 324.235 to 324.238. |
236. Engaging in commercial real estate brokerage by out-of-state principal broker and out-of-state licensee. |
237. Notice of affiliation with Kentucky cooperating broker required. |
238. Compliance with KRS 324.160(4) and 324.235 to 324.238 -- Sanctions and penalties. |
240. Repealed, 1942. [Repealed] |
250. Repealed, 1942. [Repealed] |
260. Repealed, 1942. [Repealed] |
270. Repealed, 1942. [Repealed] |
280. Repealed, 1966. [Repealed] |
Kentucky Real Estate Commission |
281. Kentucky Real Estate Commission -- Members -- Terms -- Vacancies -- Duties -- Mandatory continuing education. |
2811. Automatic removal of member from commission. |
2812. Limitation of commission's jurisdiction. |
282. Election of chairperson -- Rules and regulations. |
283. Compensation of commission members. |
284. Employees -- Office -- Equipment and supplies. |
285. Seal -- Records. |
286. Disposition of fees -- Payment of expenses. |
287. Fees. |
288. Affiliation fee. |
290. Repealed, 1982. [Repealed] |
300. Repealed, 1976. [Repealed] |
310. Delivery of sales associate's license to commission when association terminated -- Placing license in escrow with commission. |
312. Commission's right to return of associate's license -- Sanction for failure to return. |
320. Repealed, 1976. [Repealed] |
330. Notice of change of location, firm name, surname, or associate -- New license. |
340. Repealed, 2000. [Repealed] |
350. Repealed, 1982. [Repealed] |
360. Form for seller's disclosure of conditions. |
Errors and Omissions Insurance |
395. Errors and omissions insurance mandatory for all licensees. |
Real Estate Education, Research, and Recovery Fund |
400. Real estate education, research, and recovery fund -- Fees. |
410. Purposes of fund. |
420. Collection by aggrieved party from recovery fund. |
425. Closing existing business of deceased or incapacitated principal broker. |
980. Persons to whom KRS Chapter 324 does not apply. |
Penalties |
990. Engaging in real estate brokerage without license -- Penalties. |