§ 5-20.5-20 - Real estate school permit – Fees – Penalty for operation without permit prohibited.
SECTION 5-20.5-20
§ 5-20.5-20 Real estate school permit– Fees – Penalty for operation without permit prohibited. – (a) It is unlawful for any school to offer courses or to conduct classes ofinstruction in real estate subjects without first procuring a permit; or havingobtained a permit, to represent that its students are assured of passingexaminations given by the division of professional regulation, or to representthat the issuance of a permit is a recommendation or endorsement of the schoolto which it is issued, or of any course of instruction given by it.
(b) The application of each school shall be accompanied by afirst year license fee of two hundred fifty dollars ($250) and a further fee ofone hundred dollars ($100) multiplied by the remaining term of licensure. Ifissued, the license is renewable on the payment of a renewal fee assessed atthe rate of one hundred fifty dollars ($150) per annum. The total fee for theentire term of initial licensure and renewal shall be paid at the time ofapplication.
(c) In the event that any person is found guilty of violatingthis section in the operation of a school, or any rule or regulation adoptedpursuant to this section, or attempts to continue to operate as a school afterthe revocation or during a period of suspension of a permit, he or she isguilty of a misdemeanor.
(d) The department of business regulation shall promulgaterules and regulations mandating the term of license and the term of renewal ofeach permit issued. No license shall remain in force for a period in excess ofthree (3) years.