Revises continuing education requirements for real estate licensees and regulation of certain real estate continuing education providers, instructors, and courses.
What changed between versions
Section 2 (amending C.45:15-10.8) is deleted entirely. This section had exempted real estate schools with at least 20,000 successful completions from the requirement that their director be a licensed and approved real estate instructor.
Language in subsection b(4) referencing providers authorized to approve their own instructors and courses under section 28 (C.45:15-16.2f) is struck, consistent with the deletion of that section.
The bill title no longer references 'supplementing chapter 15 of Title 45,' reflecting the removal of sections that amended statutes within that chapter.
Section 6 (amending C.45:15-16.2f) is deleted entirely. This section had required course providers to maintain completion records, transmit data to the commission, post a $15,000 bond, and authorized providers with 20,000+ completions to approve their own instructors and courses.
Section 7 (new section) is deleted entirely. This section had required continuing education instructors approved before the bill's enactment to prove they taught at least two approved courses in the previous biennial term to be eligible for reapproval.
New paragraph (10) gives the commission authority to investigate suspected violations and either place a course, provider, or instructor on probation, suspend or revoke their approval, or impose a penalty of up to $5,000 for a first violation and up to $10,000 for any subsequent violation, enforceable through summary proceedings under the Penalty Enforcement Law.
New language in subsection b(1) requires the commission to approve or deny applications recommended by the Volunteer Advisory Committee at the next regularly scheduled meeting after receipt. If no meeting is scheduled within 30 days, the commission must designate personnel to act on the application.
