(1) There is created a commission of five members, appointed by the governor, which shall administer parts 2 and 5 of this article 10. This commission is known as the real estate commission. The commission is a type 1 entity, as defined in section 24-1-105, and consists of three real estate brokers who have had not less than five years' experience in the real estate business in Colorado, one of whom has substantial experience in property management, and two representatives of the public at large. Members of the commission serve three-year terms. Upon the death, resignation, removal, or otherwise of any member of the commission, the governor shall appoint a member to fill out the unexpired term. The governor may remove any member for misconduct, neglect of duty, or incompetence.
(2) Each member of the commission shall receive the same compensation and reimbursement of expenses as those provided for members of boards and commissions in the division of professions and occupations pursuant to section 12-20-103 (6). Payment for all such per diem compensation and expenses shall be made out of annual appropriations from the division of real estate cash fund provided for in section 12-10-215.
(3) Members of the commission, consultants, expert witnesses, and complainants shall be immune from suit in any civil action based upon any disciplinary proceedings or other official acts they performed in good faith.
(4) No real estate broker's license shall be denied, suspended, or revoked except as determined by a majority vote of the members of the commission.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 623, � 1, effective October 1. L. 2022: (1) amended, (SB 22-162), ch. 469, p. 3391, � 109, effective August 10.
Editor's note: This section is similar to former � 12-61-105 as it existed prior to 2019.
Cross references: For the short title (the Debbie Haskins 'Administrative Organization Act of 1968' Modernization Act) in SB 22-162, see section 1 of chapter 469, Session Laws of Colorado 2022.
12-10-207. Division of real estate - creation - director, clerks, and assistants. (1) There is created in the department the division of real estate. The executive director is authorized by this section to employ, subject to the provisions of the state personnel system laws of the state, a director of the division, who in turn shall employ such attorneys, deputies, investigators, clerks, and assistants as are necessary to discharge the duties imposed by parts 2 and 5 of this article 10. The division and the director are type 2 entities, as defined in section 24-1-105, and exercise their powers and perform their duties and functions under the department.
(2) It is the duty of the director, personally, or the director's designee to aid in the administration and enforcement of parts 2 and 5 of this article 10 and in the prosecution of all persons charged with violating any of their provisions, to conduct audits of business accounts of licensees, to perform such duties of the commission as the commission prescribes, and to act in behalf of the commission on such occasions and in such circumstances as the commission directs.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 624, � 1, effective October 1. L. 2022: (1) amended, (SB 22-162), ch. 469, p. 3392, � 110, effective August 10.
Editor's note: This section is similar to former � 12-61-106 as it existed prior to 2019.
Cross references: For the short title (the Debbie Haskins 'Administrative Organization act of 1968' Modernization Act) in SB 22-162, see section 1 of chapter 469, Session Laws of Colorado 2022.