he purpose of the amendment is to update the rule to no longer reference a federal rule and procedure which does not appear to be current; it will also ensure that statutory mandates are fully implemented.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Florida Real Estate Commission

RULE NO.:RULE TITLE:

61J2-10.032Notice Requirements

61J2-10.038Mailing Address

PURPOSE AND EFFECT: he purpose of the amendment is to update the rule to no longer reference a federal rule and procedure which does not appear to be current; it will also ensure that statutory mandates are fully implemented.

SUMMARY: Update rule language.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: During discussion of the economic impact of this rule at its Board meeting, the Board, based upon the expertise and experience of its members, determined that a Statement of Estimated Regulatory Costs (SERC) was not necessary and that the rule will not require ratification by the Legislature. No person or interested party submitted additional information regarding the economic impact at that time.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 475.05, 475.25 FS.

LAW IMPLEMENTED: 83.49(3)(d), 455.275, 475.25 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Giuvanna Corona, Executive Director, Florida Real Estate Commission, 400 W. Robinson Street, #N801, Orlando, FL 32801, [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

61J2-10.032 Notice Requirements.

(1) through (3) No change. 

(4) Brokers who are entrusted with an earnest money deposit (EMD), pursuant to a residential sales contract utilized by the Department of Housing and Urban Development (HUD) in the sale of property owned by HUD, shall comply with the EMD requirements of the specific HUD contract, and are not required to follow the notice or settlement procedures of section 475.25(1)(d)1., F.S., and subsection (1) of this rule. The broker is to follow HUD’s Agreement to Abide, Broker Participation Requirements, and 24 C.F.R. s. 291.135 as they pertain to the proper disposition of EMDs.

Rulemaking Authority 475.05, 475.25 FS. Law Implemented 83.49(3)(d), 475.25 FS. History–New 10-13-85, Formerly 21V-10.32, Amended 2-18-92, 12-8-92, 6-28-93, Formerly 21V-10.032, Amended 11-16-93, 6-6-94, 8-6-96, 11-10-97, 1-17-02,        .

 

61J2-10.038 Mailing Address:  Place of Practice: Requirement for Notification.

(1) Pursuant to section 455.275(1), F.S., the Commission defines “current mailing address” as the current residential address which is used by a licensee or permit holder to receive mail through the United States Postal Service and the Commission defines “place of practice” as the physical location of the Real Estate Brokerage office established and maintained pursuant to Section 475.22(1), F.S.

(2) Each licensee and permit holder is required to notify the Department BPR in writing of the current mailing and e-mail address and any change in the current mailing or e-mail address within 10 days after the change.  A first time failure to comply with this requirement shall result in the issuance of a Citation; second or subsequent violations will result in disciplinary proceedings against the licensee.

Rulemaking Authority 455.275(1), 475.05 FS. Law Implemented 455.275 FS. History–New 4-9-95,  Amended_____.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Florida Real Estate Commission

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Florida Real Estate Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 17, 2020

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: September 16, 2020