Idaho Code tit. 54, ch. 20 – Idaho Real Estate License Law | Midpage

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Idaho Statutes

Chapter 20

Idaho Code tit. 54, ch. 20

Idaho Real Estate License Law

54-2001Short title.54-2002Licensure required.54-2003Exceptions to licensure — Active licensees — Transactions involving personal property.54-2004Definitions.54-2005The Idaho real estate commission.54-2006Qualifications of commissioners — term and organization.54-2007Compensation, powers and duties of commission.54-2008Establishment of Idaho real estate education council.54-2009Council appointment, qualifications and term.54-2010Compensation.54-2011Types of licenses.54-2012Minimum requirements for an individual primary idaho license.54-2013Errors and omissions insurance.54-2014License exams.54-2015Individuals actively licensed in another state or jurisdiction seeking primary Idaho licensure.54-2016Primary Idaho licenses for legal business entities, sole proprietorships and branch offices — Additional requirements.54-2017Cooperative Licenses.54-2018License renewals — Inactive license status — Personal changes — Effective dates — Fees nonrefundable.54-2019Denial of license applications.54-2020Fees.54-2021occupational licenses fund — RECEIPTS AND DISBURSEMENTS.54-2022Real estate education — Prelicense requirements.54-2023Continuing education requirements.54-2024Purpose of certification.54-2025Certification requirements.54-2026Certification of course providers.54-2027Duties and requirements of all certified course providers.54-2028Term of provider certification and renewal.54-2029Notice of potential expiration of certification.54-2030Expiration or withdrawal of provider certification — Notice to students.54-2031Withdrawal of Idaho certification for cause — Process.54-2032Certification of instructors.54-2033Instructor qualifications.54-2034Special consideration — Discretion of the commission.54-2035Term of instructor certification and renewal.54-2036Certification of courses and course content.54-2037Term of course certification and renewal.54-2038Designated broker — General responsibilities — broker price opinions.54-2039Broker and branch manager.54-2040Main office or business location.54-2041Trust accounts and entrusted property.54-2042Creation of noninterest-bearing trust accounts — Requirements.54-2043Interest-bearing trust accounts.54-2044Trust account recordkeeping — Format of records required.54-2045Trust account deposits and receipt of consideration.54-2046Trust account disbursements.54-2047Disputed earnest money.54-2048Responsible broker for the transaction — Duties and recordkeeping.54-2049Record retention schedules.54-2050Brokerage representation agreements — Required elements.54-2051Offers to purchase.54-2052Electronically generated agreements.54-2053Advertising.54-2054Compensation, commissions and fees — Prohibited conduct.54-2055Licensees dealing with their own property.54-2056Terminating or changing licensed business relationships.54-2057Death or incapacity of a designated broker.54-2058Authority to investigate and discipline.54-2059Disciplinary powers — Revocation, suspension or other disciplinary action.54-2060Grounds for disciplinary action.54-2061Additional grounds for disciplinary action — Court actions — Licensee to report to commission.54-2062Additional grounds for disciplinary action — Other administrative actions — Licensee to report to commission.54-2063Disciplinary procedure and review of agency action.54-2064Proof of complaint — Prosecution by county prosecuting attorney.54-2065Penalty for acting as a broker or salesperson without license.54-2066Injunctive relief.54-2067Cease and desist orders.54-2068Witnesses — Depositions — Fees — Subpoenas.54-2069Real estate recovery fund established.54-2070Augmentation of fund.54-2071Recovery from fund — Procedure — Grounds — Amount — Hearing.54-2072Commission may answer petition — Compromise of claims.54-2073Court order requiring payment from recovery fund.54-2074Automatic suspension of broker’s, associate broker’s or salesperson’s license on payment by commission — Condition for license reinstatement.54-2075Order of payment of claims if recovery fund balance insufficient — Interest.54-2076Commission’s right to subrogation.54-2077Waiver of rights.54-2078Disciplinary action against licensees not restricted for violations of law or rules.54-2079Termination of sales associate for violation of disciplinary provisions — Statement to be filed with commission.54-2080Records — Disclosure to public.54-2082Short title.54-2083Definitions.54-2084Brokerage agency relationships — Creation.54-2085Disclosure and writing requirements — Agency disclosure brochure and representation confirmation.54-2086Duties to a customer.54-2087Duties to a client.54-2088Limited dual agency and assigned agency permitted.54-2089Broker compensation.54-2091Duration of agency relationship.54-2092Duties and obligations owed after termination of representation.54-2093Vicarious liability abolished.54-2094Representation not fiduciary in nature.54-2095Conflicts with other law.54-2096Severability.54-2097Rulemaking authority of the commission.