The Commission proposes the rule amendment to update the rule, delete unnecessary language and to add new language to clarify the procedures for filling a vacancy for a broker in a brokerage.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Florida Real Estate Commission

RULE NO.:RULE TITLE:

61J2-5.018Vacancies of Office

PURPOSE AND EFFECT: The Commission proposes the rule amendment to update the rule, delete unnecessary language and to add new language to clarify the procedures for filling a vacancy for a broker in a brokerage.

SUMMARY: The rule amendment will update the rule, delete unnecessary language and add new language to clarify the procedures for filling a vacancy for a broker in a brokerage.

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: . A SERC has not been prepared by the Commission. The Commission 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 Commission meeting, the Commission, 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.

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 FS.

LAW IMPLEMENTED: 475.01(3), 475.15, 475.31, 475.42 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: Juana Watkins, Executive Director, Division of Real Estate, 400 N. Robinson Street, Suite N801, Orlando, Florida 32801

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

61J2-5.018 Vacancies of Office

(1) A brokerage corporation shall have at all times registered the name(s) of its officer(s) and director(s). In the event that a brokerage corporation has but one active broker, and such broker dies, resigns, or is unexpectedly unable to remain in otherwise removed from the position as the active broker, then, in such event, such vacancy shall be filled within 14 calendar days during which no new brokerage business may be performed by the brokerage corporation or a licensee registered with the brokerage corporation until a new active or temporary broker is appointed and registered with the brokerage corporation. It shall be the duty of the brokerage corporation to immediately notify the Commission of such vacancy and of the steps taken to fill this vacancy.

(2) Failure to appoint another active or temporary broker within 14 calendar days will result in the automatic cancellation of the brokerage corporate registration, and the licenses of all its broker associates officer(s), director(s) and sales associates salesperson(s) will become involuntarily inactive.

(3) If a brokerage corporation has more than one active broker and one such broker dies, resigns, or is unexpectedly unable to remain in otherwise removed from the position as an active broker, neither the brokerage corporate registration nor the licenses of any of its broker associates and sales associates officer(s), director(s) or  salesperson(s) are is affected by this vacancy.

(4) If a brokerage has only one active broker and that broker dies, resigns or is unexpectedly unable to remain in the position as active broker, the vacancy may be filled with a temporary broker. A temporary broker may be registered with a brokerage for a period not to exceed 60 days without the need to comply with the Secretary of State registration requirements of Rule 61J2-5.015, F.A.C. Such registration shall be on a form as prescribed by the department with supporting documentation as prescribed by the form. No later than 60 days after the registration of the temporary broker, such brokerage shall file proof that a new broker is properly registered with the Secretary of State on  a form prescribed by the department.

(5) For purposes of qualifying for a temporary broker license, a broker’s failure to complete post-licensure education is not an unexpected vacancy.

(6)(4) If an active broker officer or director resigns or is unexpectedly unable to remain in removed from the broker’s corporate office, the broker may have a license reissued individually or with a partnership or another corporation. If an active broker officer or director is already licensed as active when the broker takes the corporate office, the broker shall surrender the current license within 7 calendar days, and apply for issuance or reissuance of a license in the corporate capacity. However, surrender of the broker’s current license is not required if the broker is holds holder of multiple licenses.

Rulemaking Specific Authority 475.05 FS. Law Implemented 475.01(3), 475.15, 475.31, 475.42 FS. History–New 1-1-80, Formerly 21V-5.18, Amended 6-28-93, Formerly 21V-5.018, 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: October 20, 2015

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: August 6, 2015