Alabama Licese Law

Front 1

the Alabama real estate license law provides for the creation of, what?

Back 1

the correction of the Alabama real estate commission

Front 2

the commission is composed of how many members?

Back 2

9 (one is as consumer member)

Front 3

what is the ninth member called?

Back 3

consumer member

Front 4

8 of the 9 must have been, what?

Back 4

1. been an Alabama resident for a least 10 years; 2. employed as real estate salesperson or broker for at least 10 years

Front 5

what is a person not eligible to serve on the commission?

Back 5

if he/she has been convicted of violating any federal or state real estate license law

Front 6

a consumer member of the commission must

Back 6

must be Alabama resident for 10 years;

must be 21 years old; must be the owner of real estate property; must not be related to or employed by a real estate licensee; must not have been a license sales person or broker during the previous 10 years; must be an Alabama reregistered voter; must not be convicted of any felony

Front 7

What are the organizational provision of the real estate commission?

Back 7

a quorum for conducting official business is a majority of the commission;

each commission member serves a 5 year term; a member cannot serve more than two consecutive terms;

members serve until their successors are appointed and qualified:

the commission selects a chair person from among its members

Front 8

each commission member serves how many terms?

Back 8

5 year term

Front 9

a member cannot serve more than how many years?

Back 9

10 years or two consecutive terms;

Front 10

members serve until when

Back 10

their successors are appointed and qualified:

Front 11

the commission selects a chair person from, where?

Back 11

among its members

Front 12

the members of the commission are

Back 12

appointed by the governor, and confirmed by the senate

Front 13

how duties and powers of the commission are vested; to carry out it's duties the commission does what?

Back 13

employs an executive director and an assistant executive director

Front 14

what are the responsibilities of the executive director and assistant executive director

Back 14

they are determined by the commission

Front 15

commission powers and duties are? (issuing & enforcing)

Back 15

adopting and enforcing rules and regulations to implement the real estate license law;

issuing licenses;

Front 16

commission powers and duties are? (conduct & investigation)

Back 16

initiating investigation into improper conduct;

investigation charges from the public on improper conduct;

Front 17

commission powers and duties are? hearings, courses, & fee)

Back 17

conducting hearings related to real estate license law; sponsoring or conducting real estate courses for licenses;

regulating real estate schools;

collecting of fees charges and penalties

Front 18

fees collected by the commission must be deposited where?

Back 18

with the state treasure and places in a separate fun to be used for commission expenses

Front 19

where does the funds collected for the research and education go?

Back 19

they are deposited in to the university of Alabama real estate research and education center

Front 20

who contributes to the research and education fund?

Back 20

brokers and salespersons

Front 21

what fees do the brokers and salespersons pay to research and education fund and how?

Back 21

when applying for initial licensure ($30.00) and when renewing licenses($7.50 per year for each year of renewal. which is $15 for two years: renewal periods are every 2 years and starting on October 1st and end September 30th must be submitted by August 1st)

Front 22

when is the research and education fund renewal date and how long?

Back 22

2 years and starting on October 1st and end September 30th must be submitted by August 1st

Front 23

how much is the renewal fee research and education fund?

Back 23

$7.50 per year for each year of renewal. which is $15 for two years:

Front 24

the real estate recovery fund is used to cover what?

Back 24

actual (actually occurred) and compensatory damages (negligence or unlawful conduct of another party). suffered by the members of the public as a result of action of a real estate licensee

Front 25

who contribute to the recovery fund and how?

Back 25

brokers and sales persons when they pay fees and apply for a initial licensure

Front 26

what is the additional fee that a active sales person and broker pay?

Back 26

$30.00