Chapter LXVII

A. Distance education courses may be used as qualifying education credit for obtaining a license or continuing education for license renewal, provided the courses and instructors are approved or certified by the Appraiser Qualifications Board of the Appraisal Foundation (AQB) or …

A. Video presentations will be accepted for qualifying and continuing education credit only when used as a training aid by an instructor in a classroom setting. Notes La. Admin. Code tit. 46 , § LXVII-10419 Promulgated by the Department of Economic Development, Real Estate Apprai…

A. Appraisal courses combined with real estate salesperson and/or broker prelicensing courses offered by schools certified by the Louisiana Real Estate Commission and approved by the board as education providers will not be accepted by the board as qualifying education. Notes La.…

A. Each course credited toward an individual's educational requirement must represent a progression in which the individual's knowledge is increased. Full credit will not be granted to an individual for courses completed which are repetitive in nature. Notes La. Admin. Code tit. …

A. A final examination is required on courses administered for the purpose of additional education when directed by the board. Completion of these courses shall be evidenced by a certificate of course completion issued by the education provider. Such courses shall not be used to …

A. The board may, upon its own motion, and shall, upon the verified complaint in writing of any person, investigate the actions of a licensee or certificate holder, or any person who assumes to act as such. Written complaints shall bear the signature of the complainant or that of…

A. In any investigation conducted by the staff of the commission, the chairman The executive director of the board may be requested to assign may request a member of the board to provide technical assistance to the investigator conducting the from a member of the board in any inv…

A. Every licensee or certificate holder shall cooperate fully with and answer all questions propounded by the staff member(s) conducting an investigation. B. Every licensee or certificate holder shall produce any document, book, or record in his/her possession, or under his/her c…

A. As the result of an investigation, when it appears that violations of the Louisiana Real Estate Appraisers Law and/or rules and regulations of the board may have been committed by a licensee or certificate holder, the violations may be adjudicated through informal or formal ad…

A. Rehearings 1. An order of the board shall be subject to rehearing, reopening or reconsideration by the board on receipt of a written request from a respondent. An application for rehearing, reopening or reconsideration must be postmarked or received at the office of the board …

A. On a finding that a respondent has committed the violation(s) as alleged in any formal or informal adjudicatory proceeding, the respondent may be assessed the administrative costs of the proceeding as determined by the board. Payment of these costs shall be a condition of sati…

A. The filing of a petition for judicial review does not itself stay enforcement of an order issued by the board. A stay of enforcement will be granted only when directed by the court conducting a judicial review of adjudication. Notes La. Admin. Code tit. 46 , § LXVII-10513 Prom…

A. It shall be unlawful for a licensee or certificate holder to enter into an agreement to perform valuation services, written or otherwise, with an appraisal management company, or a person, corporation, partnership, sole proprietorship, subsidiary, unit, or other business entit…

A. A request to terminate sponsorship of a licensee or to transfer a licensee to a new broker shall be submitted on forms prescribed by the commission and shall be accompanied by the fees prescribed in R.S. 37:1443 . Notes La. Admin. Code tit. 46 , § LXVII-1501 Promulgated by the…

A. A request for license transfer that is submitted within 60 days of any of the following circumstances shall be exempt from the transfer fee or delinquent renewal fee prescribed in R.S. 37:1443 : 1. the sponsoring broker has died; 2. the sponsoring broker has failed to renew hi…

A. When a licensed agency purchases or otherwise acquires another licensed agency, the sponsoring or qualifying broker of the acquiring agency shall notify the commission in writing no later than the fifth working day following the date of acquisition. B. The notice shall specify…

A. A request to transfer a license from active to inactive status or from inactive to active status shall be submitted on forms prescribed by the commission and shall be accompanied by the fees prescribed in R.S. 37:1443 , unless exempt as prescribed in § 1503 of this Chapter. B.…

A. A licensee whose business relationship with a sponsoring broker has been terminated for any reason shall immediately relinquish all business related property to the sponsoring broker, including: 1. the keys to any and all properties listed with the broker; 2. any documents tha…

A. The commission shall not intervene or become otherwise involved in employment disputes or disputes pertaining to financial obligations that are the result of a business relationship between a broker and a sponsored licensee or a timeshare developer and timeshare sales registra…

A. A broker must provide a sponsored licensee with written notice and acknowledgement of the activities that the broker authorizes the sponsored licensee to engage in under R.S. 37:1431(24) . B. A broker who sponsors licensees or is a qualifying broker for a corporation shall hav…

A. In a format that is readily available to the commission and for a period of no less than five years a broker must maintain at minimum the following records: 1. disclosures; 2. listing agreements, buyer representation agreements, other written agreements that authorize licensee…

A. Licensees who are part of a group or team shall not receive compensation for acts or services subject to R.S. 37:1431 .(24) from anyone within their team. Notes La. Admin. Code tit. 46 , § LXVII-1805 Promulgated by the Office of the Governor, Real Estate Commission, LR 43 954 …

A. For the purpose of this Chapter, team or group shall mean a collective name used by two or more real estate licensees, who represent themselves to the public as a part of one entity that performs real estate license activities under the supervision of the same sponsoring broke…

A. Team or group members shall be sponsored by the same broker and, if applicable, shall conduct all real estate license activity from the office or branch office where their individual license is held. B. Licensees shall not form a team or group without written approval from the…

A. Team or group names shall not contain terms that could lead the public to believe that the team or group is offering real estate brokerage services independent of the sponsoring broker. These terms shall include, but are not limited to: 1. real estate; 2. brokerage or real est…

A. The sponsoring broker shall be responsible for all license activity of team or group members sponsored by the broker. B. The designated contact member of each team or group shall maintain a current list of all team or group members, which shall be provided to the sponsoring br…

A. A team or group name shall not be used in advertising without the written approval of the sponsoring broker. B. The term "team" or "group" may be used to advertise real estate license activities provided that: 1. the use of the term does not constitute the unlawful use of a tr…

A. The commission shall not intervene or become otherwise involved in team or group disputes, including those pertaining to financial obligations that are the result of a business relationship between a team or group, team or group member, branch manager, sponsoring broker, or an…

A. A broker may be concurrently licensed as an individual and as the designated qualifying broker of one or more corporations, limited liability companies, and/or partnerships. B. Associate brokers and salespersons shall not be sponsored by more than one sponsoring broker. C. A r…

A. An office established by a broker or sponsored licensee for conducting any real estate license activity at a separate address from the registered address of the broker, wherein the name and telephone number of the broker or agency is advertised in any way, shall be considered …

A. Agreements between brokers to allow property data to be shared and disseminated to clients, customers, or prospective clients, including but not limited to web-based or email multiple listing service property data, IDX or VOW property data does not constitute advertising or ad…

A. No broker or licensee sponsored by said broker shall in any way advertise property belonging to other persons as being for sale or rent or place a sign on any such property offering the property for sale or rent without first obtaining the written authorization to do so by all…

A. All advertising shall be an accurate representation of the property advertised. No broker or licensee sponsored by said broker shall use advertising which is misleading or inaccurate or in any way misrepresents any property, terms, value, policies, or services of the business …

A. All printed advertisements for the sale or lease of residential real estate shall indicate the month and year the advertisement is printed, published, or distributed. Advertisements printed or published in newspapers, real estate trade publications and commercial magazines and…

A. Any licensed broker or salesperson affiliated with a franchise organization must disclose to the public that the real estate brokerage firm is independently owned and operated in all advertising. Notes La. Admin. Code tit. 46 , § LXVII-2509 Promulgated by the Department of Eco…

A. A licensed broker or salesperson who offers property in which he or she owns any interest as being for sale or rent shall state in any advertising, and on any sign placed on the property, that he or she is a licensed real estate agent. B. Any licensed broker or salesperson tha…

A. A real estate broker advertising or marketing on a site on the Internet must include the following data on each page of the site on which the advertisement appears: 1. the broker's name or trade name as registered with the commission; 2. the city and state in which the broker'…

Property Management -the marketing, leasing, or overall management of real property for others for a fee, commission, compensation, or other valuable consideration. Property Manager -one who, for a fee, commission, or other valuable consideration, manages real estate, including t…

A. Licensees shall not engage in property management on behalf of another without written authorization from the property owner(s). Salespersons and associate brokers shall not conduct property management functions on behalf of another, except through their sponsoring broker. B. …

A. Licensees engaged in property management on behalf of another shall open and maintain accounts in accordance with Chapter 27 of the rules and regulations of the commission. B. All security deposit and rental trust funds shall not be withdrawn for any purpose except: 1. upon th…

A. Licensees engaged in property management shall retain all of the following records, readily available and properly indexed, for a period of five years: 1. Bank statements, deposit slips, management agreements, lease agreements, owner ledgers or statements, deposit slips, disbu…

A. The provisions of this section shall not apply to an unlicensed person, partnership, limited liability company, association or corporation, foreign or domestic, who performs acts of ownership regarding the property, either individually or through an employer or representative.…

A. A resident broker, including corporations, partnerships and limited liability companies, who accepts any funds on behalf of clients in a real estate sales transaction shall open and maintain a sales escrow checking account in a financial institution in the state of Louisiana. …

A. Non-resident brokers shall open and maintain sales escrow checking accounts, rental trust checking accounts, and security deposit checking accounts, as provided in § 2701 of this Chapter; however, these accounts shall be opened and maintained in a Louisiana financial instituti…

A. Associate brokers are prohibited from opening and maintaining a sales escrow checking account, rental trust checking account, or security deposit trust checking account. All funds received by an associate broker in any real estate transaction shall be placed in the custody of …

A. A broker may open additional sales escrow checking accounts, rental trust checking accounts, and security deposit trust checking accounts to accommodate business transacted out of a branch office. Notes La. Admin. Code tit. 46 , § LXVII-2707 Promulgated by the Department of Ec…

A. An individual real estate broker shall be an authorized signatory on each sales escrow checking account, rental trust checking account, or security deposit trust checking account and shall be responsible for the proper maintenance and disbursal of any funds contained therein T…

A. Where the interest of the principal parties to a transaction or series of transactions would be served thereby, and with the prior written consent of the principal parties, a broker or non-resident broker may open an additional sales escrow checking account, rental trust check…

A. Every sales escrow checking account, rental trust checking account or security deposit trust checking account shall be opened as a non-interest bearing checking account unless all parties having an interest in the funds to be deposited therein have agreed otherwise in writing.…

A. As a part of the scope of education in Louisiana, Business Education embraces the mission and goals of education as adopted by the Board of Elementary and Secondary Education which follow. 1. The Board of Elementary and Secondary Education pledges its commitment to the proposi…