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18 Cards in this Set
- Front
- Back
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Real Estate Commission has how many members? |
9 members
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What are the terms of the Real Estate Commission members? |
3 year staggered terms |
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How many members of NCREC are appointed by Governor? |
7 members
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How many members of the NCREC are appointed by General Assembly? |
one recommended by Speaker of the House one recommended by President Pro Tem of Senate |
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How many members of the NCREC must be licensees? |
3 members
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How many members of the NCREC must be public members? |
2 members |
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Governor can remove any member for ... |
misconduct |
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Operating money for Commission comes from license fees (no tax money). Commission may keep 10% of previous year's income as ... |
reserve any excess goes to the General Fund (General Assembly)
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License Year ... |
July 1 through June 30
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Must renew by ... |
midnight June 30
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If you do not renew by June 30, your license is... |
expired |
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CE (8 hours) must be complete by ... |
June 10 |
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If CE is not take by June 10 then license is ... |
inactive as of July 1 |
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New licensees must take CE by ... |
2nd renewal |
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If license becomes inactive, to reactivate you must first ... |
take 8 hours for previous license year and all of the required 8 hours for current year (max 16) |
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Commission has the power to (list all 4) |
Reprimand Censure Suspend Revoke
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Who can the Commission fine? |
only time share DEVELOPER |
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Records must be maintained for ... |
3 years (which started from the end of the process or when trust funds were distributed) |
