RULES AND REGULATIONS AMENDED
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Summarized below are recent amendments to the Rules and Regulations of
the North Carolina Real Estate Commission (21 NCAC) which were adopted by the Commission
on December 9 following an October 17 rulemaking hearing. These changes will become
effective April 1, 1987, subject to approval of the Administrative Rules Review Committee.
Rule A .0101 (b) was amended to replace the license
renewal sticker with a pocket card to provide licensees a more portable proof of licensure.
Rule A .1005(a) (3) was amended to provide for
disciplinary sanctions against schools which do not result in a loss of the right to
continue to conduct real estate prelicensing courses.
Rule A .1104(a) was amended to clarify that approved
pre-licensing real estate course must be taught in accordance with the Commission's course
syllabi.
Rule A .1105(a) and (b) was amended to clarify the
minimum course completion standards required for real estate prelicensing courses and to
attain more consistency in such standards among schools.
Rule A .1203(a)( l )-(4) was amended to
Increase and clarify the minimum standards for certifying instructors of real estate
pre-licensing courses.
Rule A .1205(a) was amended to provide for a
disciplinary sanction against certified real estate instructors which does not result in
loss of teaching privileges.
Rule A .1306(b)( l ) and (2) was amended to clarify
the standards for directors of private real estate schools.
Rule A .1314(d) was amended to require private real
estate schools to retain for five years consents to use endorsements in advertising.
Rule A .1318(a) was amended to provide for
disciplinary sanctions against private real estate schools which do not result in the loss
of the right to continue to conduct pre-licensing courses.
Rule B .0101 was amended to state more specifically
the information which must be submitted with an application for time share registration.
Rule B .0104(c) was amended to state more specifically
the procedures for amending time share registration.
Rule B .0105 was adopted to provide for notification
to the Commission of the cancellation of time share project registrations.
Rule B .0201 (b) was amended to state more
specifically the information which must be included in a time share public offering
statement.
Rule B .0202(a) was amended to put public offering
statement summaries in narrative form.
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