Mississippi Administrative Code

The Board will not pursue any civil, criminal or administrative action against a person who is issued a declaratory opinion from the Board and who, in good faith, follows the direction of the opinion and acts in accordance therewith unless a court of competent jurisdiction holds …

Any person with a substantial interest in the subject matter may request a declaratory opinion from the Board by following the specified procedures. A substantial interest in the subject matter means: an individual, business, group or other entity that is directly affected by the…

The Board will issue declaratory opinions regarding the applicability to specified facts of: (1) a statute administered or enforced by the Board or (2) a rule promulgated by the Board. The Board will not issue a declaratory opinion a statute or rule which is outside the primary j…

The Board may, for good cause, refuse to issue, a declaratory opinion. The circumstances in which declaratory opinions will not be issued include, but are not necessarily limited to: 1. Lack of clarity concerning the question presented; 2. There is pending or anticipated litigati…

Each request must be printed or typewritten, or must be in legible handwriting. Each request must be submitted on standard business letter-size paper (81/2 inches by 11 inches). Requests may be in the form of a letter addressed to the Board. Notes 30 Miss. Code. R. 1503-2.5 Miss.…

All requests must be sent to the Board Administrator, The Mississippi Real Estate Appraiser Licensing and Certification Board: (1) by mail at P.O. Box 12685, Jackson, MS 39236; or (2) delivered to 2506 Lakeland Drive, Suite 300, Flowood, MS 39232; or (3) sent via facsimile to (60…

Each request must include the full name, telephone number and mailing address of the requestor. All requests shall be signed by the person filing the request, who shall attest that the request complies with the requirements set forth in these rules, including but not limited to a…

Each request shall contain the following: 1. A clear and concise statement of all facts on which the opinion is requested; 2. A citation to the statute or rule at issue; 3. The question(s) sought to be answered in the opinion, stated clearly; 4. A suggested proposed opinion from …

Within forty-five (45) days after the receipt of a request for a declaratory opinion which complies with the requirements of these rules, the Board shall, in writing: 1. Issue a declaratory opinion regarding the specified statute or rule as applied to the specified circumstances;…

1. There is hereby established, as an adjunct board to the Mississippi Real Estate Commission, a Board to be known as the Mississippi Real Estate Appraiser Licensing and Certification Board, which shall consist of six (6) members. Five (5) members shall be appointed by the Govern…

A. An applicant for a broker's license must pass the National Portion of the broker's examination with a grade of at least 75% and must pass the State Specific Portion of the examination with a grade of at least 80%. B. An applicant for a salesperson's license must pass the Natio…

A. To change a license from active to inactive status, licensee shall notify the Commission in writing, shall insure that the license is returned to the Commission and shall pay the appropriate fee. A licensee who is on inactive status at time of renewal may renew the license on …

The following fees are set by the Commission in accordance with Section 73-35-17: A. Application and one year's use of license: (1) Broker........................................................ $150.00 (2) Salesperson........................................... $120.00 B. Applica…

Fees and monies payable to the Mississippi Real Estate Commission may be by personal check, cash, cashier's check or money order. All personal checks shall be made payable to the Mississippi Real Estate Commission. Any personal checks returned not paid or for any other reason sha…

A. It shall be the duty of the responsible broker to instruct the licensees licensed under that broker in the fundamentals of real estate practice, ethics of the profession and the Mississippi Real Estate License Law and to exercise supervision of their real estate activities for…

A. A real estate licensee shall immediately (at the time of signing) deliver a true and correct copy of any instrument to any party or parties executing the same. B. All exclusive listing agreements shall be in writing, properly identify the property to be sold, and contain all o…

A. "Advertising" means the use of any oral, written, visual, printed or electronically generated advertisement by a real estate licensee or other person on behalf of a real estate licensee. "Advertisement" means any oral, written, visual, printed or electronic media advertisement…

A. The responsible broker is responsible at all times for earnest money deposits. Earnest money accepted by the broker or any licensee for which the broker is responsible and upon acceptance of a mutually agreeable contract is required to deposit the money into a trust account pr…

A. A "Team or Group" shall mean a collective name used by two or more active real estate licensees who represent themselves to the public as being part of a single entity which is organized with the written approval of a Principal Broker to perform licensable real estate activity…

Consumers shall be fully informed of the agency relationships in real estate transactions identified in Section 73-35-3. This rule places specific requirements on Brokers to disclose their agency relationship. This does not abrogate the laws of agency as recognized under common l…

A. "Agency" shall mean the relationship created when one person, the Principal (client), delegates to another, the agent, the right to act on his behalf in a real estate transaction and to exercise some degree of discretion while so acting. Agency may be entered into by expressed…

A. In a single agency, a broker is required to disclose, in writing, to the party for whom the broker is an agent in a real estate transaction that the broker is the agent of the party. The written disclosure must be made before the time an agreement for representation is entered…

A licensee shall not be required to comply with the provisions of Section 3, when engaged in transactions with any corporation, non-profit corporation, professional corporation, professional association, limited liability company, partnership, real estate investment trust, busine…

A. All complaints submitted to the Commission shall be properly certified on forms furnished by the Commission. B. Every licensee shall, within ten days, notify the Real Estate Commission of any adverse court decisions in which the licensee appeared as a defendant. C. It shall be…

For Part 1601, Chapter 5 only, the following terms have the meanings indicated: A. Administrative Hearing: A formal hearing, with record made by a Certified Court Reporter before a Commission Hearing Panel, or Administrative Hearing Officer, to consider and adjudicate disciplinar…

A. Upon receipt of a verified/sworn complaint, or other allegation of violation of the Mississippi Real Estate Commission License Law, the Commission's Administrative Rules or other applicable laws, the Commission's Investigative Staff, with advice and consultation from Commissio…

A. Upon completion of the formal investigation, the Investigative Review Committee will determine whether there is sufficient cause to believe that a violation exists of the Mississippi Real Estate License Law, the Commission Administrative Rules and/or other applicable laws gove…

A. If an allegation is not resolved informally or the Investigative Review Committee determines that an allegation warrants the issuance of a Formal Complaint, Commission staff may commence disciplinary proceedings by issuing a Formal Complaint and Notice of Hearing. B. A Respond…

A. At any time prior to an Administrative Hearing, any matter before the Commission may be resolved through informal proceedings either by stipulation, agreed settlement proposal, or agreed order of dismissal. Any agreed settlement proposal/Agreed Order must be agreed to in writi…

A. Continuances. Hearings shall be held before the Real Estate Commissioners Hearing Panel at the time and place designated in the Notice of Hearing unless the Commission grants a continuance. (a) A request for a continuance must be filed with the Commission at least ten (10) day…

A. Formal Administrative Hearings are conducted pursuant to Miss. Code Ann. § 73-35-23 which provides that hearings may be conducted before the Commission or an Administrative Hearing Officer. When hearings are conducted before the Commission, one Commissioner present at the hear…

A. An applicant, Respondent/licensee or other person aggrieved of an adverse order, ruling or decision of the Commission, or Administrative Hearing Officer, shall have the right to appeal to the circuit court of the county of residence of the applicant, licensee, or person, or of…

A. Any course that meets the educational requirements as set forth in Section 73-35-7 of the Mississippi Real Estate Broker's License Act of 1954, as Amended. B. Any course sponsored or provided by the Mississippi Real Estate Commission. C. Any course which has been individually …

A. Definitions: (1) "Provider" - any individual person, partnership, association, legally established corporation or LLC, educational organization, or other entity that sponsors, offers, organizes, provides or promotes real estate continuing education courses. (2) "Instructor" - …

The education and experience of the instructor must be appropriate to teach the subject matter. Notes 30 Miss. Code. R. 1601-6.3 Miss. Code Ann. §§ 73-35-35

A. Providers of continuing education courses shall furnish the Commission with a class roster within thirty (30) days after completion of each course listing each Mississippi licensee in attendance in alphabetical order. B. Providers will utilize a three-part certificate for the …

A. An approved real estate provider must include, in all forms of advertising, the school's name and the physical location of its principal place of business. B. An approved real estate provider may not advertise through oral statements or written text in such a manner that the s…

A. No real estate education presentation may be conducted in a facility that is also utilized for conducting the business of real estate brokerage unless all participants are licensees of the brokerage firm conducting the courses. B. No real estate education provider will allow i…

Failure to comply with any provision of this rule shall constitute grounds for suspension or revocation of the approval of a course, a provider or an instructor, or other such action as deemed appropriate by the Commission. Notes 30 Miss. Code. R. 1601-6.7 Miss. Code Ann. §§ 73-3…

Out-of-state land developers who desire to advertise out-of-state property in Mississippi (except in national publications) shall first contact the Mississippi Real Estate Commission to have the property approved for advertising. The Mississippi Real Estate Commission may in its …

Any seller, other than the developer and its regular employees, of a timeshare plan within the State of Mississippi must be a licensed Real Estate Broker or Real Estate Salesperson pursuant to and subject to Mississippi Law and the Rules and Regulations of the Mississippi Real Es…

A. For single site timeshare plans and component sites of multi-site timeshare plans located in this state, the timeshare instrument shall require that the following insurance be at all times maintained in force to protect timeshare interest owners in the timeshare plan: (1) Insu…

A. No advertising shall: (1) Misrepresent a fact or create a false or misleading impression regarding the timeshare plan. (2) Make a prediction of increases in the price or value of timeshare periods. (3) Contain any contradictory statements. (4) Describe any improvements to the …

A. Before the first sale of a timeshare period, the developer shall create or provide for a managing entity, which may be the developer, a separate management firm, or an owner's association, or some combination thereof. B. The management entity shall act in the capacity of fiduc…

A. The management entity has a lien on a timeshare period from the date an assessment becomes due. B. The management entity may bring an action in its name to foreclose a lien for assessments in the manner a mortgage of real property is foreclosed, and may bring an action to reco…

A. Referrals of prospective customers to the developer by any existing timeshare owner shall be permitted, without the owner holding a real estate license and compensation may be paid to the referring owner, only under the following circumstances: (1) The existing timeshare owner…

A. "Accommodations" means any structure, service improvement, facility, apartment, condominium or cooperative unit, cabin, lodge, hotel or motel room, or any other private or commercial structure, which is situated on real property and designed for occupancy by one or more indivi…