§ 5-20.5-6 - Duration of licenses – Rules and regulations – Suspension or revocation of licenses.
SECTION 5-20.5-6
§ 5-20.5-6 Duration of licenses –Rules and regulations – Suspension or revocation of licenses. – (a) If the director is satisfied that the applicant is competent andtrustworthy and is reasonably familiar with the statutes and law relating toreal estate, he or she shall issue to the applicant a license to act as a realestate broker or a real estate salesperson. The director shall promulgate rulesand regulations mandating the term of license for each category of licenseissued pursuant to this chapter. No license shall remain in force for a periodin excess of three (3) years. Any fee for the initial issuance of a license orfor renewal of a license issued pursuant to this chapter is determined bymultiplying the current annual fee by the term of years of the license orrenewal. The fee for the total number of years of the initial license or of therenewal shall be paid in full prior to the issuance of the respective license.The license shall be renewed upon payment of the renewal fee. Any licenseissued or renewed may be suspended or revoked by the director, for cause, priorto the expiration date. The director shall issue reasonable rules andregulations with the consent of the majority of the Rhode Island real estatecommission governing the conduct of licensed real estate brokers andsalespersons, these rules and regulations shall be designed to implement thelaws and policies of this state and to protect the interests of the public.
(b) Any rules or regulations promulgated with regard to therequirement of continuing education for the renewal of any real estate broker'sand/or salesperson's license whose application for an initial broker's and/orsalesperson's license is approved within one hundred eighty (180) days of theexpiration date of his or her initial license is not subject to the continuingeducation requirement at the time of his or her first renewal. The director,after a due and proper hearing, may suspend, revoke, or refuse to renew anylicense upon proof that it was obtained by fraud or misrepresentation or thatthe holder of the license has been guilty of fraud or misrepresentation orcriminal acts in the performance of his or her functions, or upon proof thatthe holder of the license has violated this statute or any rule or regulationissued pursuant to this statute.
(c) The director shall, for licenses issued or renewed afterJuly 1, 2004, require proof of, reasonable familiarity with and knowledge ofduties and responsibilities established by the Lead Poisoning Prevention Act,chapter 24.6 of title 23 of the general laws, and the Lead Hazard MitigationAct, chapter 128.1 of title 42 of the general laws. Notwithstanding theprovisions of subsection (b) above, the requirements of this subsection shallapply to first renewals when licenses were initially issued before July 1,2004. This subsection shall be put into force and effect by the director in themanner set forth in chapter 128.1 of title 42 and with the advice of the RhodeIsland Real Estate Commission.