The Washington herald., 1920-12-12
Model of Licerise Law Controlling
Operations of Realty Brokers
And Statesmen Outlined.

The model license law. presented
at the Denver conference of the
executive committee of the Ma
tional Association of Real Estate
Boards is printed below.
Section l makes II unlawful for
anyone TO engage in the real es-
tate business without frst obtain
ing a license. The latter is to be
granted only to persons who are
trustworthy. reputedly honest and
competent, to the end that public
interests may be safeguarded.
Section defines a real estate
broker and a real estate salesman.
and excludes from the provisions
of the act transactions by owners
in reference to their own property.
attorneys. trustees. receivers. eNecu-
tors, administrators, etc.
Section provides that one act
of buying or selling real estate.
etc. for q compensation shall con-
stitute the individual a real estate
broker-or salesman within the
meaning of the act.
Creates n Commission.
Section creates a real estate
commission. empowered to admin
lister the act. The commission
shall consist of three real estate
brokers. to serve for three years
and may promulgate the necessary
rules and regulations to carry into
effect the provisions of the act.
It also fixes the compensation to
be paid the three commissioners.
Section 5 permits the commission
to employ. and at it's pleasure dis
charge, a secretary and other nec-
essary employees and to engage
offices, procure furniture, office
supplies, etc.
Section 6 provides for the adop-
tion of a seal and that all records.
duly certified and authenticated
by the seal, shall be received in
evidence in courts. All records
are to be open to public inspection,
under regulation by the commits
sion.
State Gets Fees.
Section prescribes that all fees
and charges collected shall be paid
in to the general fund of the State
treasury and that all expenses of
the commission be paid out of that
fund. but the payments must not
exceed the fees and charges col
lected
Section relates to applications
for licenses. They shall be in writ
ing and two real estate owners
shall certify to the good reputa-
tion of the applicant and recon-
mend the issuance of the license.
The applicant must furnish his
present business and residence ad-
dresses and his past addresses for
a period of five years, also the
name and address of concern with
which he expects to be identified
in business. Every broker licensed
shall maintain a place of business
within the State. An applicant for
license as salesman shall in addi-
tion to information similar to the
above, give name of last employer
and name of employer he is with
or expects to be with when appli-
cation is made. The broker must
certify to the good repute of the
salesman and recommend that the
license be issued. The commission
Is vested with the authority to
prescribe all necessary rules con-.
nected with the application for any
license.
Section 9 contains data as to the
license to be issued. 1t shall con-
tain such matter as shall be pre-
scribed by the commission The
real estate broker shall conspicu-
ously display his license at his
place of business and in case of
change of address he shall notify
the commission. A change of busi-
ness location without notification
to the commission automatically
cancels the license. To each Ii
cense also shall be issued a pocket
card containing name and address
and shall certify that the person
whose name appears has been IL
censed as S real estate broker or
salesman.
License Terminates.
= Section 10. When the employ
ment of salesman terminates,
the broker shall at once return
2 istered mail to the commits