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ADMINISTRATIVE RULE
CHANGES--CHAPTER 193-E
R02-01
View the filed Notice
of Intended Action
View the filed Adopted
Summary of Rule
Changes:
Rescinded chapters 1, 2, 3,
4, and 6 contain rules that are identical or similar to rules that were sorted, organized,
clarified and included in proposed new chapters.
Rescinded chapters 5, 7,
and 8 are chapters that contain rules that are identical or similar to rules contained in
rules for the Professional Licensing and Regulation Division.
1. Rescind Chapter 1
“Business Conduct” and replace with new Chapter 1 “Administration.”
Proposed Chapter 1 contains clarified and organized rules that are identical or similar to
related rules in rescinded chapters 2, 4, 7, and 8 covering commission administration and
referencing topics covered by division rules to the corresponding division chapter.
2. Rescind Chapter 2
“Administrative Procedure” and replace with new Chapter 2
“Definitions.” Proposed Chapter 2 contains definitions that are identical or
similar to definitions in rescinded chapters 1 and 2. Changes were for clarification.
3. Rescind Chapter 3
“Prelicense and Continuing Education” and replace with new Chapter 3
“Broker License.” Proposed Chapter 3 contains rules that organize and outline
the requirements for obtaining a broker license. Contains rules that are identical or
similar to related rules in rescinded chapters 2 and 3. Changes were for clarification.
4. Rescind Chapter 4
“Investigations and Disciplinary Procedures” and replace with new Chapter 4
“Salesperson License.” Proposed Chapter 4 contains rules that organize and
outline the requirements for obtaining a salesperson license. Contains rules that are
identical or similar to related rules in rescinded chapters 2 and 3. Changes were for
clarification.
5. Rescind Chapter 5
“Public Records and Fair Information Practices” and replace with new Chapter 5
“Licensees of Other Jurisdictions and Reciprocity.” Proposed Chapter 5 contains
rules that organize and outline the requirements for non-Iowa residents obtaining a real
estate license. Contains rules that are identical or similar to related rules in rescinded
chapters 2 and 3. Changes were for clarification.
6. Rescind Chapter 6
“Requirements for Mandatory Errors and Omissions Insurance” and replace with new
Chapter 6 “Terminating and Transfer.” Proposed Chapter 6 is a new chapter that
clarifies established procedures to follow when terminating employment, immediate transfer
of license, and authorization to request a license issued.
7. Rescind Chapter 7
“Declaratory Orders”; and replace with new Chapter 7 “Offices and
Management.”
Proposed Chapter 7 contains
rules that organize rules relating to various licensing, office, and management
requirements. Contains rules identical or similar to related rules in rescinded chapters 1
and 2. Changes were for clarification and the outdated time frame requirement was removed
from 7.7(543B).
8. Rescind Chapter 8
“Waiver and Variances From Rules” and replace with new Chapter 8 “Closing
Real Estate Business.” Proposed Chapter 8 is a new chapter that establishes
procedures for closing a real estate business.
9. Adopt new Chapter 9
“Fees.” Proposed Chapter 9 contains rules that organize rules relating to
various license fees. Contains rules identical or similar to related rules in rescinded
chapter 2. Changes were for clarification and to reflect license fee increase of $50 for a
three year broker, salesperson, and firm license, $20 for the additional license, branch
license, and trade name license. A new $25 license certification fee added.
10. Adopt new Chapter 10
“Advertising. Proposed Chapter 10 contains rules that organize rules relating to
advertising requirements. Contains rules identical or similar to related rules in
rescinded chapter 1. Changes were for clarification.
11. Adopt new Chapter 11
“Brokerage Agreements and Listings.” Proposed Chapter 11 contains rules that
organize rules relating to various listings and brokerage agreements. Contains rules
identical or similar to related rules in rescinded chapter 1. Changes were for
clarification.
12. Adopt new Chapter 12
“Disclosure of Relationships.” Proposed Chapter 12 contains rules that organize
rules relating to agency and disclosure requirements. Contains rules identical or similar
to related rules in rescinded chapter 1. Changes were for clarification.
13. Adopt new Chapter 13
“Trust Accounts and Closing.” Proposed Chapter 13 contains rules that organize
rules relating to trust account and closing requirements. Contains rules identical or
similar to related rules in rescinded chapter 1. Changes were for clarification.
14. Adopt new Chapter 14
“Seller Property Condition Disclosure.” Proposed Chapter 14 contains rules that
organize rules relating to the seller property disclosure requirements. Contains rules
identical or similar to related rules in rescinded chapter 1. Changes were for
clarification.
15. Adopt new Chapter 15
“Property Management.” Proposed Chapter 15 contains rules that organize rules
relating to property management. Contains rules identical or similar to related rules in
rescinded chapter 1. Changes were for clarification.
16. Adopt new Chapter 16
“Prelicense Education and Continuing Education.” Proposed Chapter 16 contains
rules that organize rules relating to prelicense and continuing education requirements.
Contains rules identical or similar to related rules in rescinded chapter 3. Changes were
for clarification.
17. Adopt new Chapter 17
“School, Course, and Instructor Approvals.” Proposed Chapter 17 contains rules
that organize rules relating to real estate school, course, and instructor approval
requirements and application. Contains rules identical or similar to related rules in
rescinded chapter 3. Changes were for clarification.
18. Adopt new Chapter 18
“Investigations and Disciplinary Procedures.” Proposed Chapter 18 contains
investigation and disciplinary procedure rules specific to real estate commission to
supplement division chapter 7. Contains rules identical or similar to related rules in
rescinded chapter 4. Changes were for clarification and to comply with new Iowa Code
section 543B.48.
19. Adopt new Chapter 19
“Requirements for Mandatory Errors and Omissions Insurance.” Proposed Chapter 19
contains rules that clarify the requirements for the mandatory errors and omissions
insurance requirement. Changes were made to for clarification and to comply with
legislative changes to Iowa Code section 543B.47. Contains rules identical or similar to
related rules in rescinded chapter 6.
20. Adopt new Chapter 20
“Time-Share Filing.” Proposed Chapter 20 contains the identical timeshare filing
rule in rescinded chapter 2.
Reason for the
RuleChanges:
Executive Order 8 and
legislative changes to Iowa Code chapter 543B.
View the filed Notice
of Intended Action
View the filed Adopted
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