Act 14 of 2009 (originally Senate Bill 241) enacted two major changes to the Real Estate Licensing and Registration Act (RELRA), effective as of September 4, 2009.  One change (discussed here) allows broker to pay to, and licensees to receive compensation from, a "qualified association."  The second makes some changes to the escrow rules for real estate licensees.

 

Qualified Associations FAQ - Last updated February 5, 2010

 

Special Notices page, with link to information on qualified associations and the form to report a qualified association to the Commission (also found on their forms page, form number 2141).

 

Information and forms to create the corporate entity that will become a qualified association.  Brokers and licensees can also verify formation and status of the entity through the Corporations Bureau.

 

Senate Bill 241 / Act 14 of 2009

NOTE:  This is the original bill that was passed by the Legislature.  Amendments to the Licensing Act are reflected in the full version of RELRA, below.

 

NOTE:  This is the full version of RELRA, including the amendments included in Act 14.