This Subsection shall not apply to a nonresident broker who is currently licensed in his state of residence. Louisiana Real Estate Commission; qualifications; terms of office §1443. Licensing and registration required C. It shall be unlawful for any individual, partnership, limited liability company, corporation, or other legal entity, or the successor or assignee thereof, to create a timeshare plan, or to make sales of timeshare interests, which it owns or purports to own or for another, without first obtaining a registration, as provided in this Chapter, unless exempted, as specified therein. 655, §1, eff. Failure to renew delinquently an expired inactive license during the three-month period will result in the forfeiture of renewal rights and will require the former licensee to apply as an initial applicant and meet all requirements of an initial applicant.
(4) Delinquent fees, in addition to the renewal fee, if not renewed by December thirty-first of the applicable license, registration, or certification period: (a) January 1 – February 15 Active and inactive Licensees, (b) February 16 – March 31 Active Licensees, (c) February 16 – March 31 Inactive Licensees, (d) January 1 – January 31 Real estate schools, vendors, and pre-license instructors, (8) Continuing education course registration. (2) If there is a change in the instructor, the vendor shall provide the executive director with the name of the new instructor and a brief statement as to why the instructor is qualified to conduct the course, at least seven days prior to the course. (e) Real estate instructor approval or certification. It shall be the duty of every licensee, registrant, and certificate holder who is the custodian of client funds to report the institution of bankruptcy proceedings to the commission, in writing and by registered or certified mail or hand delivery within ten days of institution of such proceedings. (11) Offering real estate for sale or lease without the written consent of the owner or his authorized agents. Revocation or suspension of registration Continuing education; meetings and conferences; approved vendors; approval process; exceptions G.(1) Associate brokers, salespersons, and timeshare interest salespersons shall not conduct any activities requiring a license or registration until such license or registration has been issued and is in the custody of the sponsoring broker or employing timeshare developer. The commission may suspend or revoke the registration of any timeshare developer who knowingly allows any person or entity who does not have a current timeshare interest sales registration or current Louisiana real estate license to sell timeshare interests owned by the timeshare developer. A. (2) The commission shall not make any payment, be liable, cast in judgment, or pay any portion of any claim or judgment representing an award or claim for attorney fees, court costs, damages for physical or mental injury, medical expenses, loss of income or profits, punitive damages, or any other type of damages other than the actual damages suffered by the claimant. 380, §1. (30) “Sponsoring broker” means any individual real estate broker who sponsors associate brokers or real estate salespersons who participate in any activity described in this Section. Acts 1990, No.
C. The fact that any person engages in or performs or offers to engage in or perform any of the practices, acts, or operations constituting “real estate activity” as set forth in R.S. (36) Engaging in any effort, including referral or recommendation of a specific home inspector, with the intent to deceive or defraud. Real Estate Recovery Fund However, a salesperson without a responsible broker may not perform acts requiring a real estate license. B. (b) Copies of all documents that pertain in any way to real estate transactions wherein the individual real estate broker or licensees sponsored by the individual real estate broker have appeared in a licensing capacity. 514, §1. (1) Before censuring, suspending, or revoking any license or registration, or certification, or imposing continuing education requirements, the Louisiana Real Estate Commission shall, except for the reasons set forth in R.S. In addition to bringing an action in court, violations of this Section may be addressed through mediation services. C. This Section shall apply only to written agreements and contracts that are entered into by the parties on or after January 1, 2002. (2) The requirement regarding copies shall not be altered by the transfer of a broker to that of an associate broker, an unlicensed person, or an inactive licensee. (14) Negotiating the sale, exchange, lease, or management of real estate directly with an owner or lessor of the real estate if he knows that such owner or lessor has a written outstanding contract in connection with such real estate granting an exclusive agency or an exclusive right to sell, exchange, lease, or manage the real estate to another broker. Within the three-month delinquency period immediately following the expiration of the last active license and upon payment of appropriate renewal and inactive license transfer fees, former licensees may transfer their license to the inactive status. {{NOTE: SEE ACTS 1985, NO. A person, partnership, limited liability company, association, or corporation, foreign or domestic, acting in the capacity of a franchisor shall not enter into a franchise agreement with a real estate broker in this state unless the franchisor has appointed a Louisiana licensed real estate broker to act as its representative in this state. Acts 1978, No. 655, §1, eff. $10 - Duplicate License/Registration Request . (31) Procuring a license, registration, or certificate for himself or anyone else by fraud, misrepresentation, or deceit. and the approximate amount of said costs. 842, §1; Acts 1989, No. Payment from the fund (b) Three to less than five years in the inactive status – forty hours of continuing education. (17) “Mold” means any form of multicellular fungi that live on plant or animal matter and in indoor or outdoor environments. $10 - Change of Personal Name and/or Address . (2) This provision shall not apply if the sponsoring broker or employing timeshare developer has received written authorization from the commission authorizing such activity pending the issuance of the license or timeshare registration by the commission. 552, §2; Acts 1986, No.
These funds may be invested by the commission under the same limitations as other state funds and the interest thereon shall be deposited to the credit of the recovery fund. (ii) The claimant has diligently pursued his remedies against all the judgment debtors and all persons liable to him in the transaction for which he seeks recovery from the recovery fund. Notice shall be satisfied by mailing a copy of the charges by certified mail to the licensee’s, registrant’s, or certificate holder’s address on file with the commission or by commission personnel hand delivering a copy of the charges to the licensee, registrant, or certificate holder.
Jan. 1, 1990; Acts 1995, No.