New Rules and Regulations Adopted
Preview on Page 3
The new Administrative Procedure Act (General Statute 150-A) enacted by the General Assembly in 1975 required that Rules and Regulations of most Licensing Boards and certain governmental agencies be revised and set forth in a form prescribed by the Attorney General's Office as of February 1, 1976.Although the new Rules and Regulations were adopted by the Licensing Board at its January Board meeting and filed with the Attorney General's Office on January 27, 1976, printing of the Rules and Regulations and notification to the licensees was delayed pending approval of the Rules and Regulations by the Attorney General's Office. However, we have now been informed that final approval by the Attorney General's Office may not be received for several months. You are therefore advised that the Rules and Regulations in their present form are subject to revision by the Attorney General's Office, although it is our understanding that the substance of the Rules will not be changed. In addition to Rules and Regulations relating to general brokerage activities, licensing requirements and procedures, the new Rules and Regulations also contain information relating to such areas as administrative hearings and rule making as required under the Administrative Procedure Act.
Every licensee will be mailed a copy of the new Rules and Regulations within the next week and the Board strongly advises each licensee to carefully study and review them in order to avoid possible violations. It cannot be overemphasized that violation of any rule or regulation promulgated by the Board can result in suspension or revocation of a real estate license.
To provide real estate schools and applicants for licenses adequate time to become thoroughly acquainted with the New Rules and Regulations, licensing examinations given prior to August 1, 1976 will include questions dealing with only those Rules and Regulations contained in both the old and new Rules and Regulations.
See page 3 of this Bulletin for a preview of some of the important additions and changes which will affect your day to day real estate operations.